Sale of the Week: The $1.7-million east-end home that shows how profitable flipping can be
A large, newly renovated semi near Ashbridges Bay.
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:
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 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 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
• $4,000 in taxes (approximately)
• 2,000 square feet (approximately)
• 6 bedrooms
• 4 bathrooms
• 3 days on MLS