The Toronto real estate market may still play host to some of the most expensive homes in Canada, but one gem on the market looks to be a diamond in the rough.
Not only is this a cheap home for sale, but it is the cheapest house for sale in all of Toronto right now, listed for under $250,000.
The three-bedroom, two-bathroom detached bungalow in Etobicoke is much more than just an affordable family home that could be an ideal fit for first-time homebuyers. With upgrades and some standout features, it could be just right for anyone looking to buy a house in Canada right now.
The exterior view of Toronto's cheapest home for sale.RE/MAX CROWN REALTY
56 Fifteenth St. has been on the market for just over a month and is currently listed for $245,000.
That price is $900,000 cheaper than the benchmark price for a home in Toronto, according to Zoocasa. With the potential to buy a home for that much under average, you kind of have to look, don't you?
The home certainly has an ideal location — closeby to schools, stores, and a hospital, while just over 15 kilometres away from downtown Toronto — but there is also plenty to love inside.
The kitchen of Toronto's cheapest home for sale.RE/MAX CROWN REALTY
The kitchen looks to be recently upgraded with stainless steel appliances and plenty of counter space.
Off the kitchen, the open dining room area is spacious and features a fancy, built-in wine rack.
A custom wine rack inside of Toronto's cheapest home for sale.RE/MAX CROWN REALTY
The home also features a number of accent walls, both in the living room and the finished basement.
In the living room, there's another fun surprise — a hidden TV and electric fireplace, which is one of two inside the home.
The living room of Toronto's cheapest house for sale.RE/MAX CROWN REALTY
Then, to the primary bedroom, which has a large walk-in closet and an ensuite bathroom with his and hers vanities and yet another fancy feature — a heated towel rack.
The primary bedroom and ensuite bathroom of Toronto's cheapest house for sale.RE/MAX CROWN REALTY
There are two more bedrooms in the basement of the home and one of those rooms could also be used as an office.
And then, to cap it off, Toronto's cheapest home for sale also has quite a big backyard with a nice deck.
The backyard of Toronto's cheapest home for sale.RE/MAX CROWN REALTY
A good amount of space in a prime location — all for just $245,000.
So, why is this Toronto house for sale so much cheaper than the rest?
The home was listed for $800,000 back in 2022, and according to Zoocasa, sold for well above the asking price, likely because of a bidding war.
By Zoocasa's estimation, a house similar to this one in Toronto would sell for an average price of $1,200,969 today.
There are expectations the low price of this home is meant to entice bidding wars once again, but despite warnings the property could sell quickly, it has been on the market for more than a month already.
Perhaps this is just the opportunity you've been waiting for to buy a cheap home for sale in Toronto. You never know.