116 James Gray Dr., Toronto
Asking price: $1,080,000 (September, 2021)
Selling price: $1,178,000 (September, 2021)
Taxes: $4,800 (2021)
Days on the market: 11
Listing agent: Bill Thom, Re/Max Realtron Bill Thom Group Realty Inc.
This semi-detached house was in bad shape, but homebuyers were more interested in its impressive size and location amid mature trees and backing onto a ravine. One bidder jumped the gun, presenting their offer before the presentation date, spurring two other bidders to follow suit. After a second round of bids a deal was struck for $1.178-million, $98,000 over asking.
“The location on the ravine and the sheer size of it – a five-level backsplit – are hard to come by,” agent Bill Thom said.
“The people who bought it factored in that they’ll have to spend about $150,000 to bring it up [to snuff], but it’s still worth it for a five-level backsplit on a ravine.”
What they got
This roughly 50-year-old house with a built-in garage was designed with five floors of living space, including a self-contained apartment spanning the bottom two levels.
The primary kitchen and living room are located on the main floor, which has stairs leading to three bedrooms upstairs and guest and family rooms on the level below.
The agent’s take
“The five-level backsplit is the most sought-after, semi-detached housing type,” Mr. Thom said.
“You have three- and four-level backsplit semis, two-storey semis and bungalow semis, but by comparison, none has the size, nor convenience of having separate entrances for rental. That’s why this was so in demand.”
The 30-foot-by-137-foot lot is also close to some coveted amenities. “A.Y. Jackson and Zion Heights are good schools, and it’s steps to the TTC and one bus to the subway,” Mr. Thom said.
“And it’s a stone’s throw from a community centre with a swimming pool, and a library too.”
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