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Toronto Real Estate Second listing and price cut help sell Toronto bungalow near Victoria Park station

92 Madelaine Ave., Toronto

Asking price: $579,000

Selling price: $555,000

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Taxes: $2,046 (2018)

Days on the market: 16

Listing agent: Ben Scholes, Royal LePage Estate Realty

The action

The home has been modernized and opened up in recent years.

This one-bedroom bungalow with an unfinished basement is one of the many small houses around Victoria Park subway station. The seller was disappointed by a lacklustre offer over the summer, so old wiring was replaced before it was relisted for $579,000 late September.

“It was a hard one to price because there was nothing like it,” agent Ben Scholes said.

“For instance, there were two other homes for sale on the street, but they had three bedrooms, so they were in the high $600,000s or low $700,000s.”

What they got

A deck can be accessed via the bedroom.

In recent years, this nearly century-old residence on a 23-by-112-foot lot was modernized, so it has open entertaining and cooking quarters and a private bedroom with vaulted ceilings and access to a deck with a pergola.

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Additional assets outdoors include a West Coast-style red cedar greenhouse and a private driveway.

The agent’s take

The covered deck features plenty of reclaimed materials.

“It’s may be 90 years old, but it had been entirely gutted,” Mr. Scholes said. “[Plus] it has a lot of three-seasons living space.”

The covered deck was especially cozy. “It’s made out of a lot of reclaimed materials because one of the owners was a finishing carpenter and the other was an art teacher,” Mr. Scholes said.

“Repurposed old doors made for awnings and railings, and rough cuts made benches.”

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