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304 Wellesley St. E., Toronto.

304 Wellesley St. E., Toronto

Parliament and Wellesley

Asking price: $1,890,000

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Selling price: $1,850,000

Previous selling prices: $1,045,000 (2011); $872,000 (2007); $690,000 (2005)

Taxes: $6,977 (2017)

Days on the market: 44

Listing agent: Jen Tripp, HomeLife/Realty One Ltd. Photos: Shannon Ross

The sunken living room has a fireplace and an exit to the yard.

The action: Some house hunters had their doubts about this three-storey residence with a private driveway because it is so close the the busy intersection at Wellesley and Parliament, even though it is within the coveted Cabbagetown heritage district. A price drop to $1.89-million from $1.95-million reignited interest and ultimately lead to a $1.85-million agreement over the holidays late last year.

“We were trying to get in before the new [mortgage] stress test because I was concerned about the impact it would have on people,” agent Jen Tripp said. “It had five open houses and more than 50 people through the property.”

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What they got: Slightly more than 10 years ago, this 2,157-square-foot house was constructed with modern luxuries and faux-Victorian details, such as a yellow brick façade, decorative wainscotting and arched windows and entranceways to help blend in with its historic neighbours.

The kitchen rests between a formal dining area and sunken living room with a fireplace and rear exit to the yard.

Upstairs, there are three bedrooms and three out of five bathrooms, as well as a second-floor office and laundry room.

A guest room and recreation area round out the basement.

The yard features mulberry trees and Japanese maples.

The agent’s take: “Fifteen years ago, it was an empty lot and now it’s a beautiful detached, three-bedroom home. And it’s unique within the neighbourhood because there are very few detached homes,” Ms. Tripp said.

“[In addition], the builder wanted it to fit into the streetscape and did a very good job.”

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A few years ago, the sellers also improved areas such as the master retreat and the landscaping on the 20-by-100-foot grounds.

“The landscape architect really created this escape from the city with mulberry trees and Japanese maple,” Ms. Tripp said. “It was so beautiful.”

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