Semi with quick reno draws 12 bids, outsells larger neighbour

495 Roxton Rd., Toronto PALMERSTON

Asking price: $898,000 (January, 2023)

Selling price: $1,115,000 (January, 2023)

Previous selling prices: $845,000 (April, 2018); $440,000 (July, 2008); $279,900 (July, 2004); $137,000 (July, 1997)

Taxes: $5,181 (2022)

Days on the market: Seven Listing agents: Ken and Jaime Ramsay, Harvey Kalles Real Estate Ltd.

This semi-detached house just south of Christie Pits Park underwent a quick oneweek transformation that included new pot lights to brighten the interiors and a glass doorway to reconvert an open den back into a second bedroom. There was strong buyer demand from the get-go.

“This listing had the most showings that we’ve ever had, with 152 appointments booked and the highest number of online views on realtor.ca that we’ve ever had at 6,867,” said agent Ken Ramsay.

“[Our renovations] cost about $6,000 to $8,000, but the return was easily $30,000 or closer to $50,000, because if this was a one-bedroom house, we wouldn’t have had as many people to see it.”

The quickie renovations, which also included a new paint job and a thorough staging, drew out 12 competing offers. The 124year-old house ended up selling for $217,000 over asking and $275,000 more than a larger semidetached house nearby that had listed for $699,000 the week prior.

“It was a three-bedroom house that wasn’t in as good condition, was not staged and doesn’t look like much was done to prepare the house for sale,” Mr. Ramsay said.

“They did not sell on their offer date, relisted on Jan. 26 for $899,000 and sold on Feb. 11 for $840,000.”

WHAT THEY GOT The two-storey house had been modernized throughout after the sellers bought it in 2018, including the two bathrooms and finished basement.

A staircase with steel railings separates the living room and kitchen. The latter was also redone with quartz countertops and opens to a mudroom with laundry machines and access to a patio and garage on the 14- by 121foot lot.

The property closed on Feb. 28.

THE AGENT’S TAKE “Roxton Road is one of the most desirable streets in Little Italy,” Mr. Ramsay said.

“It had a great backyard and a big garage, and it’s very close to the subway.”