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Real Estate News

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

By Kelly Reid
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The house that sold at 26 Algonquin Avenue
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:

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

The living room, at the front of the house:

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

The dining room is continuous with the living room:

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

The dining room has a door to a narrow patio:

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

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

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

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

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

Here’s the balcony:

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

Another second-floor bedroom:

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

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

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

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

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

All three second-floor bedrooms share this hallway bathroom:

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

The master bedroom has the third floor to itself:

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

The master ensuite makes creative use of skylights:

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

There’s a basement rec room:

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

And a large backyard:

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

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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

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