Finding an affordable home in this city’s real estate market is like finding a needle in the world's largest haystack. So it's no surprise that Toronto’s cheapest house is already gaining a lot of interest. The small Scarborough home is listed at $399,900. To put things into perspective, the average price of a home in the GTA was set at $757,365 back in 2018.
According to The Globe and Mail, the property, listed by McCann Realty Group Ltd. at 4 Lucy Avenue, has attracted a steady stream of interested parties since it hit the market. Most of the potential buyers have reportedly been young couples looking to buy their starter home.
The home has five rooms total, two of which are bedrooms. Its standout features include central air, a renovated kitchen, and a single parking space.
“It’s cute as a button,” Broker of Record Cheri McCann told Toronto Storeys. “It’s a cul-de-sac – there’s one way in, one way out.” According to Toronto Storeys, the home has sparked a bidding war for its low asking price.
The basement is unfinished, and the size of the entire lot is just 100.00 feet by 22.08 feet. However, according to Toronto Storeys, similarly equipped homes in Toronto have been listed near the $550,000 mark, so really, it’s a steal.
Another East End real estate listing got all kinds of media attention in Toronto earlier this month. The asking price has been set at $599,000, and the property contains nothing more than an old garage and some land. The listing, which has been up since September 4, boasts a "rare opportunity for someone looking to build in desirable Danforth Village."
The 20 feet by 100 feet lot has parking, but its best feature has got to be its backyard, which has several trees and a notable amount of garden space.