House of the Week: $1.4 million for a Corso Italia home with a long-term tenant

House of the Week: $1.4 million for a Corso Italia home with a long-term tenant

Address: 40 Lauder Avenue
Neighbourhood: Corso Italia
Agent: Todd Colter, Royal LePage West Realty
Price: $1,439,000

The Place: A brick and stucco Arts and Crafts–style home just north of Davenport, near Dufferin.

The History: The sellers believe this home was built around 1920. It has an original (and working) wood-burning fireplace on the main floor, along with some original leaded-glass windows. A renovation 15 years ago added modern conveniences, most notably a second-floor laundry room, which should save the buyer some back-breaking trips up and down the stairs.

Big Selling Point: The third-floor loft space is bright and airy, and it has a working, gas-burning fireplace. It could be turned into a spacious master suite. Also, the house comes with a basement tenant who has been there for seven years, pays $1,200 a month and would like to stay.

Possible Deal Breaker: Though the second-floor bathroom looks roomy, it could use some upgrades—particularly to the shower.

By the Numbers:

• $1,439,000
• $6922.81 in taxes (2015)
• $1,200 a month in potential rental income
• 5 bedrooms
• 2 bathrooms
• 1 wood fireplace
• 1 gas fireplace