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Bargain bungalow in east Toronto draws four bids

6 BRAMBER RD., TORONTO

ASKING PRICE $550,000

SELLING PRICE $620,000

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TAXES $3,139 (2012)

DAYS ON THE MARKET Eight

LISTING AGENT Heather Lemieux, Royal LePage Connect Realty

The Action: On a short street with a park at one end, this detached bungalow was virtually half the price of some million-dollar residences in the Highland Creek community.

So three dozen buyers booked private showings and four bids returned with competing offers.

What They Got: The first and only homeowners of this 61-year-old house gave it some new windows, roofing and mechanics, but kept its traditional design with three carpeted bedrooms, a fireside living room, a dining area and an eat-in kitchen with an exit to the 83-by-175-foot grounds.

For extra space and storage, there is a lower-level recreation room with a second wood-burning fireplace and second full bathroom, as well as a shed and attached garage outside.

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The Agent's Take: "It's in a great neighbourhood and right there is the new Pan Am [Games] aquatics facilities being built, so that's a big draw, and of course U of T [Scarborough] is right there too," agent Heather Lemieux said.

"Being a ranch-style bungalow, it had a nice layout."

However, some buyers saw the property's potential to be bigger and better.

"It was a great opportunity because its a huge lot – 83 by 175 feet – on a dead-end street," Ms. Lemieux said.

"Across the street, there was a house that had been torn down and rebuilt and beside it was the same thing, so someone could easily do that again [here]."

Editor's Note: Done Deals contain information gathered from real estate agents, home buyers, home sellers and sale prices that are publicly available from government sources. While we try to publish Done Deals as soon as possible after the transaction has occurred, long closings can cause delays.

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