This is 5 bedroom, 3 bathroom house steps to Avenue Road in the Annex has been listed for a while.

It needs a BIG reno.

It was first listed in September for $1,695,000.  Considering that the fully done 4 bedroom semi down the street at 26 Tranby took 4 months and 4 price drops to finally sell at $1,555,000, I think this place is overpriced.

It didn't sell in September so the price was dropped at the end of October to $1,625,000.

Still too high.

But perhaps they feel that since another gutter house at 81 Howland Avenue eventually sold for $1,500,000, this place being a detached house and having a better location (assuming you want to be close to Avenue and Yorkville) would easily get a higher price.

Sure, the place could be amazing when it is done but there is no parking, the lot size might be 25 feet wide but it is only 77.8 feet deep.  It wouldn't leave a lot of room for a backyard but it might be possible to extend the kitchen and dining room out (but that 5 trunked tree might be a problem with the city).

There is a lot of potential in this place but it is overpriced.

I think $1,495,000 would make more sense.  Maybe a little lower.  

Without parking, I can't see this place going over $2,000,000 after a reno even if it was incredible.

But of the house at 87 Summerhill ever sells for its asking of $1,995,000....

I would suggest that instead of another price drop here, they should raise the price up to $1,850,000!!!

But Summerhill will never sell that high.

I suspect a price drop to $1,579,000 for this house in the new year.

(I still think that the Summerhill listing price was a typo and they meant to list it at $1,199,500)

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