350 Broadway Ave., Toronto
Asking price: $599,000
Selling price: $687,000
Taxes: $3,765 (2009)
Lot size: 34 by 100 feet
Days on the market: six
Listing agent: Bill Joyce, Bill Joyce Real Estate Ltd.
Agent Bill Joyce expected there would be a great deal of interest in this detached bungalow based on its proximity to Sherwood Park, a 24-hour supermarket and a shopping plaza, as well as public transit.
"It's really ideally located for … getting on the highway, getting over to the subway and shopping on Bayview [Avenue]" he says.
As predicted, the over 60-year-old house set off a bidding war between 10 buyers, including young couples, renovators and builders.
"Mostly people … wanted to knock it down and build a new house," the agent says. "[The property]is on a slight elevation, so when they make it a two-storey or 2½-storey house … it's going to stand out on the street and have nice views."
In the area, new modern houses already outnumber older bungalows such as this one, which contains two bedrooms with hardwood floors, a living room with carpeting and a kitchen with linoleum floors.
There is one bathroom, and a stacked washer and dryer in the unfinished basement.
"It was cute inside, but it still had knob and tube wiring, so that was going to be a fairly expensive undertaking," says Mr. Joyce, who notes that the oil furnace is also fairly old. "That was your next expenditure when you moved in."
A long private driveway and a fully fenced backyard fill out the property.