Sale of the Week: The $912,000 property that proves it’s possible to sell your house and have it, too
Address: 112 Helendale Avenue
Neighbourhood: Yonge-Eglinton
Agent: Ron Carroll, Re/Max Unique Inc., Brokerage
The property: A two-bedroom on an impressively leafy lot.
The history: The seller had lived in the house for 40 years. A neighbour approached him in early summer about buying the place and renting it back to him, but the deal fell through. The seller’s interest was piqued, though: he saw an opportunity to make money without moving. He found an agent willing to market the house as an investment property.
The fate: The buyer, who is a real estate agent, was completely on board with the seller’s plan. She agreed to rent it back to him for a minimum of 5 years, for $2,500 a month. The seller will pay for his own maintenance and utilities.
The sale: The house was shown about half a dozen times, but the agent investor moved the fastest. The seller accepted her offer, for $77,000 under asking.
By the numbers:
- $912,000
- $3673.78 in taxes (2016)
- 880 square feet
- 35 days on MLS
- 2 bedrooms
- 1 bathroom
Here’s the living room:
The dining area is next to the living room:
The kitchen appliances are old, but the seller plans on continuing to live here as a renter, so it shouldn’t matter:
There’s a sunroom at the back of the house:
There are two bedrooms on the second floor:
Here’s one of them:
And here’s the other:
The basement is finished:
And here’s the backyard:
