Skip to main content
done deal
Open this photo in gallery:

Royal LePage Real Estate Services Ltd.

56 Rayside Dr., Toronto

Asking price: $1,125,000 (January, 2022)

Selling price: $1,129,000 (January, 2022)

Taxes: $4,291 (2022)

Days on the market: Three

Listing agents: Dino and Jonathan Capocci, Royal LePage Real Estate Services Ltd.

The action

Open this photo in gallery:

Original hardwood floors were left exposed in the bedrooms, living and dining rooms.Royal LePage Real Estate Services Ltd.

This 57-year-old bungalow in a low-rise community west of Highway 427 and Cloverdale Mall has had some major upgrades, like a new roof and furnace, but its dated design and decor and the overall market downturn were obstacles to a sale.

“In the new year, we didn’t know what would be happening on the market [because] we hadn’t had multiple offers,” said agent Dino Capocci.

“There was one that was comparable for $1.25-million, and that was on the market and terminated around the time we listed ours, so that told me we couldn’t go that high.”

A general lack of inventory funnelled two dozen buyers to the three-bedroom home over three days. Before more house hunters could stroll through during open houses on the weekend, two visitors registered offers. The sellers took one padded with an extra $4,000 for a total of $1,129,000.

“There was very low inventory, which worked in our favour,” Mr. Capocci said. “It needed some updating but well worth the selling price.”

What they got

Open this photo in gallery:

The kitchen has not been updated.Royal LePage Real Estate Services Ltd.

This brick bungalow with an attached garage occupies a 44- by 115-foot corner lot.

Original hardwood floors were left exposed in the bedrooms, living and dining rooms.

The basement has its own entrance, a four-piece bathroom and kitchen, as well as a bedroom and recreation room.

The agent’s take

“It’s a typical older bungalow in the area that will eventually need some work – maybe update the kitchen and update a few bathrooms – but you didn’t need to do it right away,” Mr. Capocci said.

“It’s not a neighbourhood yet where every bungalow’s been topped up. It’s a really nice, typical Etobicoke neighbourhood with well-kept houses; nothing too extravagant.”

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe