Sale of the Week: The $1.5-million house that shows the difference marketing (and a price drop) can make

Sale of the Week: The $1.5-million house that shows the difference marketing (and a price drop) can make

Listed At
$1,479,000
Sold For
$1,479,000

Address: 26 Algonquin Avenue
Neighbourhood: Roncesvalles
Agent: Monte Burris, Keller Williams Referred Urban Realty, Brokerage
Previously sold for: $860,000 in 2015
 
 

The property

An attempted flip that shows the difference a little marketing and strategic price adjustment can make.

Here’s the entrance:

The living room, at the front of the house:

The dining room is continuous with the living room:

The dining room has a door to a narrow patio:

The kitchen isn’t huge, but, like the rest of the interior, it’s freshly renovated:

There are three bedrooms on the second floor of the house. This one has a door to a balcony:

Here’s the balcony:

Another second-floor bedroom:

And here’s the last second-floor bedroom. This one has a door to a private den:

The den could probably be converted into an ensuite bathroom (or a massive walk-in closet):

All three second-floor bedrooms share this hallway bathroom:

The master bedroom has the third floor to itself:

The master ensuite makes creative use of skylights:

There’s a basement rec room:

And a large backyard:

The history

When the sellers bought the house in early 2015, it was in need of a lot of work. They spent the next year renovating, hoping the property would be easy to flip when they listed it in the spring of 2016.

The sale

The sellers listed in the spring, as planned. With an asking price of $1.8 million, the house sat on the market for weeks. They dropped the price three times before signing with a new agent, who listed the property for a lower price and staged the interior. It sold in seven days.

The fate

The buyers loved the neighbourhood’s schools. Because the house has been fully renovated, they won’t need to do much other than move in.

By the numbers

• $1,479,000
• $5,703.00 in taxes (2016)
• 2,109 square feet above grade
• 743-square-foot lower level
• 7 days on MLS
• 4 bedrooms
• 4 bathrooms

The Hunt