This is a 4 bedroom, 3 bathroom house on a 34 x 132 foot lot.  It needs a lot of work but could be really cute.

Thing is, it is on a street full of semis.  

It's a nice street and it is right across the street from the Wychwood barns and steps to St. Clair, but with an asking price of $959,000 and a reno budget of at least $200,000, this would definitely be priced out of the street.  

A few readers (thanks!) sent this in with one asking if this was a great deal or if the owners were crazy, and the other reader saying they thought this might go to a developer who would then build 2 semis.

Well, looks like the owners weren't that crazy becuase this house sold last week...

For $900,000.

So, is the buyer crazy?  That is now the question.

Did they just spend a lot of money for a great lot but a lot that will never get the money back once reno'd because it is on a street of semis?  Or is this getting torn down for another set of semis.

My guess is that this is getting torn down for semis.

But they won't be huge semis.  Maybe 16 feet wide but each lot would have parking for 2, a good sized house, and it would be brand new.  

Considering that the renovated 2 bedroom semi at 110 Benson sold for $980,000, this might be a good decision.  That lot was 20 feet wide where these lots would only be 17 but this lot is 22 feet deeper. 

But if it were done like the house at 110 Benson (with one more bedroom), I don't think it would be tough to find a few 30 somethings who would be willing to pay $899,000 for the location.  

But only if it were done right.

Otherwise, high 7s would be the top price here.

PS.  The owners clearly did a lot of work to show this place since this is what it looked like only 4 months ago...

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