Address: 298 Sackville Street
Neighbourhood: Cabbagetown-South St. Jamestown
Agent: John Coulter , Bosley Real Estate Ltd., Brokerage
Price: $1,149,000
The Place: A historic cottage with a huge front porch in Cabbagetown.
Bragging Rights: Normally, you’d have to move somewhere rural like Stratford to get your hands on a classic Ontario cottage, but this picturesque example of the style has been fully renovated and sits in one of the city’s most desirable neighbourhoods.
Big Selling Point: A million may seem steep for just over 2,000 square feet of living space, but the potential $2,025 a month in rental income from the self-contained two-bedroom unit in the basement could subsidize the mortgage.
Possible Deal Breaker: The sellers recently dropped the price from $1.2 million in the hopes that someone will buy the cottage before the market slows down in December. We’ve seen smaller houses go for more.
By The Numbers:
• $1,149,000
• $4,811.63 in property taxes (2014)
• $2,025 a month in potential rental income
• 1,382 square feet, above grade
• 1,005 square foot basement apartment
• 4 bedrooms
• 3 washrooms
• 2 apartments
• 2 kitchens
• 2 entrances
• 1.5 storeys
299508 The place looks like a tiny cottage from this angle. Inside, though, there's enough space for two separate households. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-1-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-1.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-1.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-1/ toronto-house-of-the-week-298-sackville-street-1 0 0
299509 This porch is practically a room unto itself. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-2-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-2.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-2.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-2/ toronto-house-of-the-week-298-sackville-street-2 0 0
299510 The foyer. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-3-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-3.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-3.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-3/ toronto-house-of-the-week-298-sackville-street-3 0 0
299511 The dining area is a good size. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-4-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-4.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-4.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-4/ toronto-house-of-the-week-298-sackville-street-4 0 0
299512 The living room is continuous with the dining room. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-5-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-5.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-5.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-5/ toronto-house-of-the-week-298-sackville-street-5 0 0
299513 The kitchen has had some upgrades. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-6-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-6.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-6.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-6/ toronto-house-of-the-week-298-sackville-street-6 0 0
299514 The master bedroom is all by itself on the second floor, in the peak of the roof. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-7-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-7.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-7.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-7/ toronto-house-of-the-week-298-sackville-street-7 0 0
299515 The master bedroom's en suite washroom—a little slanted, but adequate. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-8-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-8.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-8.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-8/ toronto-house-of-the-week-298-sackville-street-8 0 0
299516 Here's the basement apartment. It isn't very basement-like, and supposedly it rents for more than $2000 per month. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-9-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-9.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-9.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-9/ toronto-house-of-the-week-298-sackville-street-9 0 0
299517 One of two bedrooms in the basement apartment. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-10-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-10.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-10.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-10/ toronto-house-of-the-week-298-sackville-street-10 0 0
299518 The deck. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-11-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-11.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-11.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-11/ toronto-house-of-the-week-298-sackville-street-11 0 0
299519 And here's the basement apartment's exit to the backyard. House of the Week: 298 Sackville Street House of the Week: 298 Sackville Street https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-12-200x200.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-12.jpg https://torontolife.com/wp-content/uploads/2014/11/toronto-house-of-the-week-298-sackville-street-12.jpg 1000 667 [] https://torontolife.com/real-estate/house-of-the-week-298-sackville-street/slide/toronto-house-of-the-week-298-sackville-street-12/ toronto-house-of-the-week-298-sackville-street-12 0 0
yup, a basement apartment that rents for over $2000. this is the problemo with the toronto rental market! have your million dollar house cause you can get 2 grand a month for a basement since there are stainless steel appliances in it.
Location, and 1000 square foot rental at this location for 2k a month is good.. Considering a 499 s/f condo downtown goes for 1600/month… do the math
no one is going to pay 2g’s for a basement rental…. maybe 1600 tops.. That realtor is grossly speculating… and reason why the listing has been on the market for over 1 month
Joshua you think just over 1 month is a long time on the market? I think people in Toronto expect things to sell in a matter of days when that is not always the case. Properties that sell quickly either are move in ready & priced correctly or need major renovations and are offered at less than market value. Let’s remember that you can’t say what something will rent for without doing a bit more analysis than reading this article. haha