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Royal LePage Real Estate Services Ltd.

170 Cedardale Ave., Hamilton

Asking price: $625,000 (February, 2024)

Selling price: $621,000 (February, 2024)

Previous selling price: $140,000 (September, 1988)

Taxes: $3,701 (2023)

Days on the market: one

Listing agent: Belinda Lelli, Royal LePage Real Estate Services Ltd.

The action

The owners of this three-bedroom bungalow barred entry to buyers but allowed them to scout the exterior of the 50-by-150-foot property roughly 70 kilometres from Toronto. While that stipulation turned off some people, nearly two dozen visitors went along to assess its potential. Online, the low price tag drew a crowd.

“I launched it on a business day at 12:01, so was showing me by 9 a.m. we had 300 views, and by noon, we had 780 views because of the price,” agent Belinda Lelli said.

“[Buyers] had to book a showing to walk the property, and this deterred some agents and their clients, while many others stepped up to purchase a property for an attractive price, knowing that they would need to significantly renovate or tear down.”

Eleven buyers submitted offers, ranging from a $640,000 bid contingent upon an interior tour to a $621,000 proposal that would take the property as is and close on April 3. The seller chose the lower offer with a quick close.

“They were [mostly] lower offers, but none of them were insulting,” Ms. Lelli said.

“Of those 11 offers, five were second offers improving their first.”

What they got

This roughly 35-year-old bungalow has three bedrooms, two full bathrooms and a second kitchen in the partially finished basement.

The backyard faces south, and the attached garage and driveway face north to the street.

The agent’s take

“It’s under $1-million in a really nice neighbourhood,” Ms. Lelli said. “The street is beautiful, and there are parks and schools within walking distance.

“Not all lots [in the neighbourhood] are 50 by 150 [feet], some are 100 or 110 feet deep. So this is an exceptional lot being 150 feet deep, and it qualifies for a garden suite.”

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