10 Old Mill Terrace, Toronto
Asking price: $2,690,000 (January, 2023)
Selling price: $2.5-million (February, 2023)
Previous selling price: $2,640,000 (March, 2021); $990,000 (June, 2008)
Taxes: $7,027 2022
Days on the market: 18
Listing agents: Nigel Denham and Penny Brown, Sotheby’s International Realty Canada
The owner of this five-bedroom house bought it for $2.64-million in 2021, but their plans changed in the following year, so they put it back on the market at a slight markup of $2.69-million in January. One buyer came through with an offer, but at a steep discount – $140,000 less than what the seller had paid.
“[The sellers] realized when they bought it, it was the peak of the market, and the market is off somewhat now, so they were prepared to take a loss,” said agent Nigel Denham.
“For a Kingsway house that’s detached, you’re looking at around $2-million just for dirt, so the fact this was a larger, five-bedroom house with ample parking, at $2.5-million, it represented good value for someone looking to move up from a smaller detached or semi-detached home.”
What they got
This two-storey house was built more than 100 years ago but has been modernized and expanded by successive owners. It now has 2,539 square feet of living space, including a large family room on the main floor and a spacious primary bedroom on the third floor.
There are fireplaces in the main living and dining rooms and in the recreation room below.
The eat-in kitchen has walkout access to a hot tub and patio in the backyard of the 87- by 64-foot lot.
The agent’s take
“In the Kingsway, there were nice, but much smaller, three-bedroom houses,” Mr. Denham said, “and we had five bedrooms.”
“It has a private driveway leading to the garage and a circular drive, which provided an unprecedented amount of parking.”
“It’s well located, steps to Old Mill subway, and you can walk west to the Kingsway shopping district, and one kilometre east and you’re in Bloor West Village,” Mr. Denham said.
“It also fell into the Lambton Kingsway school catchment with arguably the most desirable junior public school in Etobicoke.”