Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be

Address: 69 Woodfield Road
Neighbourhood: Greenwood-Coxwell
Agent: Audrey Azad, Re/Max Hallmark Audrey Azad Group Realty Ltd., Brokerage
Previously sold for: $870,000, in May 2017
 
 
 

The property

A large, newly renovated semi near Ashbridges Bay.

The history

The seller is in the business of flipping homes. He added a 20-foot-long, three-storey addition with a basement walkout to the rear of the house, and it worked: he sold the property for almost twice what he bought it for.

Here’s the living area. The floors are engineered oak:

The dining area:

The kitchen has quartz countertops:

And here’s the family room, at the back of the house:

Second-floor laundry rooms are an underrated perk. (Why not have the washing machine on the same floor as all your clothes?)

Here’s one of the bedrooms:

This one makes up for its lack of windows with a skylight:

Another bedroom:

And the master bedroom:

The master bedroom has a bit of closet space:

And here’s the master ensuite:

There’s a rec room in the basement:

And another bedroom:

And a pretty nice bathroom:

And here’s the view from the rear:

The fate

The buyers are a young couple with one child who live a short distance from the house. They had been looking in the area for some time. The basement has a rough-in for a kitchen, in case the buyers want to convert it into a rental suite.

The sale

The agent set an asking price that was alluringly low—but not so low that it would invite offers from lowballers hoping to score a semi on the cheap. There were three preemptive offers, and the sellers accepted one of them, for $351,000 over asking.

By the numbers

• $1,700,000
• $4,000 in taxes (approximately)
• 2,000 square feet (approximately)
• 6 bedrooms
• 4 bathrooms
• 3 days on MLS

The Hunt

City

“I’ve been a family doctor for more than 20 years. Now, I have no choice but to close my practice”

Rising costs, new administrative duties and subsequent burnout have made it impossible for physician Fan-Wah Mang to keep her Mississauga clinic open. Delivering the news to her patients—many of whom have nowhere else to go—broke her heart