373 WINNETT AVE., TORONTO
ASKING PRICE $699,000
SELLING PRICE $800,000
PREVIOUS SELLING PRICES $516,000 (2011); $326,000 (Oct., 2004); $229,000 (April, 2004)
TAXES $2,995 (2015)
DAYS ON THE MARKET Six
CO-OP AGENTS Ira Jelinek, Sarah Lever, Harvey Kalles Real Estate Ltd.
The Action: When tasked with finding a small house for older buyers, agent Ira Jelinek suggested a few options in the Cedarvale community. Given the high ratio of buyers to available homes in February, they formulated a strong pre-emptive offer to purchase this detached residence.
What They Got: Much of the value of this two-storey, brick house with a lower-level recreation room lies primarily with its 19-by-128-foot lot near the Allen Expressway, Eglinton West subway station and future LRT line, as well as shops, schools and Cedarvale Park.
The interior bears a two-bedroom and two-bathroom plan with a living room and formal dining area with hardwood floors, wainscotting and a door to a 360-square-foot deck and fenced backyard with peach and cherry trees, plus an updated kitchen with granite counters, tumbled stone backsplashes and stainless steel appliances.
The Agent's Take: "[The sellers] were looking for a nice, cute and small house, where they're paying almost land value for it, so this was perfect for them," Mr. Jelinek says.
"If there was no house on that, [the land value] would probably be $700,000 to $750,000."
This gave the buyers the flexibility to stay long-term or resell as the community evolves. "Because the house was small, you could expand through the back if they decide to one day," Mr. Jelinek notes.
"Or there may be an opportunity one day to develop or build."