110 Pricefield Road - ROSEDALE
Yesterday, I posted the sale of a semi at 66 Pricefield Road.
It was listed at $1,550,000.
I thought (and still do) that it was more of a high $1.4/low $1.5s house. It was only 3 bedrooms with a hole in the ceiling between the first and second floor, the upper cabinets in the kitchen made it look like an old kitchen that had been prettied up, the bathrooms were OLD, and it was on a very exposed corner lot with a parking spot in the middle of the back yard.
It sold for $1,625,000.
The house above is located down the street. It is a 5+1 bedroom, 5 bathroom house on a 27.5 x 112.75 foot lot. There is no listing photo of the front so the photo above is from the streetview.
It was first listed at $1,879,000.
Considering that the 5 bedroom semi at 120 Pricefield Road was listed at $1,795,000 over 5 years ago and it didn't sit for long, and that a similar sized 4 bedroom semi at 66 Summerhill Road a few streets over sold for $1,955,000, that price kind of made sense.
But it didn't sell and the price was dropped in June to $1,750,000.
Again, it didn't sell and the price was dropped a two weeks later to $1,695,000.
So, what is going on here? When an only 3 bedroom, 3 bathroom semi that needs work down the street sold for just $70,000 less?
This house, according to the listing and the builders sign in the streetview above, has been recently redone.
Thing is, it was redone because of a fire in May 2011.
And unfortunately, the reno isn't terrific.
I think the kitchen would be okay if it had a different kitchen countertop and hardware. But would it be hard to move the dishwasher beside the sink? The open concept would be even better if they opened up the back wall and let in some light (and had the kitchen at the back). Those built-in bookshelves in the living room seem kind of dinky and I would want to change that stainless steal fireplace surround, but this space could be good with more light and a better paint colour.
Upstairs seems good but I am not sure what is going on with the master. Actually, it's kind of hard to tell what is going on with this house in general because the pictures aren't great. And there are no floor plans even though it says there are on the listing.
But this house is done, it has 5 bedrooms, 5 bathrooms, and there is a garage.
As I said about the neighbouring duplex at 114 Pricefield Road, that house could have sold for $1,750,000 or higher once it was converted to a single family home.
So, why isn't this house selling?
Is it the nearby transformer (which apparently causes less radiation than a household appliance)? Is it the underwhelming reno? Is it the fire?
It's probably a little of all three.
And the price.
Perhaps this should be priced at $1,625,000....the same as 66 Pricefield Road.
For that price, which house would you rather live in?
Move the family room into the dining room, give me some tall cedars, create another bedroom, redo the bathrooms, and create a better parking spot, and my choice is 66 Pricefield Road.
But then it's not a $1.625 house anymore.
