578 Balliol St., Toronto
Asking price: $1,279,000 (October, 2023)
Previous asking price: $1.329-million (September, 2023)
Selling price: $1.21-million (October, 2023)
Previous selling prices: $690,000 (April, 2014); $430,000 (July, 2006)
Taxes: $5,336 (2023)
Days on the market: 13
Property days on market: 33
Buyers’ agent: Ira Jelinek, Harvey Kalles Real Estate Ltd.
Agent Ira Jelinek’s clients had budgeted $1.35-million and were looking for a turnkey, semi-detached house in midtown Toronto. They were outbid on their first pick and turned to this three-bedroom property. In their estimation, it needed some work, but a price reduction this fall from $1.329-million to $1.279-million made them chance an offer.
“We hadn’t seen it when it was at a higher price prior, so when we saw it, I called the agent and they said they wouldn’t take less than a certain amount,” said Mr. Jelinek.
“So, there was a lot of back and forth.”
What they got
This two-storey house was built in the 1950s and has 1,170 square feet of living space, including formal living and dining rooms with hardwood flooring.
The basement is partially finished with a separate side entrance to the backyard.
Between 2015 and 2023, the owners updated the heating and cooling systems, the main bathroom upstairs, and the kitchen and laundry appliances.
There’s also a new steel front door and new fencing on the 18- by 100-foot lot.
Parking on a mutual driveway is shared with a neighbour on alternate months.
The agent’s take
“The semis [in this neighbourhood] are either older homes that haven’t been renovated or have been renovated, and there’s a mix of detached houses that could be $3.5-million to $1.7-million,” said Mr. Jelinek.
“[Here], there’s potential to renovate the basement to add a couple of washrooms, and maybe add a parking spot.”
As for the property’s location, the buyers had no complaints. “The block was very nice and comfortable, people seemed very nice, so it was a good neighbourhood,” Mr. Jelinek said.