This is a 4 bedroom, 1 bathroom detached house on a 27.5 x 147 foot lot just north of College at 144 Rusholme Road in Dufferin Grove.

And it has a lot of potential.  Like A LOT.  It just needs a lot of work.

According to the listing, it has been owned by the same owner since the 1920s.  And I don't think much has been done to the house since then.

But this house could be updated with an extension at the back to become an amazing 4 bedroom house with 4 bathrooms, a large kitchen, and a family room.

Or you could just renovate within the existing foot print and make the small den and bedroom beside the master bedroom a bathroom and walk-in closet...

This house has been on the market for a month.

The first asking price was $1,199,000.

The price was just dropped to $1,099,000.

When a house like the semi on the 19.5 x 128 foot lot that needed a lot of work at 265 Markham Street in Little Italy...

Can sell in 6 days for $1,128,000...

I do not understand why this hasn't sold.  

There is sooooooooooo much potential here.

And I don't see the development of the IT Lofts 3 doors away as a bad thing....

In fact, I see that as a good thing.

So.....

What am I missing?

P.S.  It took me a while to figure out where these stairs were located until I realized it was they were the stairs to the basement.

Kind of creepy.

listing