98 Riverdale Avenue - RIVERDALE
This is a 5+1 bedroom, 5 bathroom house on a 49.83 x 146 foot lot with a detached garage at 98 Riverdale Avenue in Riverdale.
It has been listed since the beginning of June. Since that time, many readers have sent it in.
And from the listing photo with the excellent curb appeal and the large windows, you are probably wondering why a large house in Riverdale would sit for 2 months.
Well, it could have something to do with the fact that it looks like not a lot has been done to the house for several decades. And it isn't a single family home. It has a separate 2 bedroom suite on the 3rd floor and 1 bedroom suite in the basement.
And the asking price was around $3,200,000.
If this was a single family home that had recently been renovated, maybe I could understand the price.
But this house needs work to warrant that price. And at that price, it doesn't make sense as an income opportunity.
It's just a weird property. With the work needed to update it and do something about the gap under this door...
And the cost to convert it to a single family home..
And fill in that pool which is what one reader would want to do...
Not to mention that it isn't as big as it looks in the listing photo..
Then the $3.2 cost didn't make sense.
The price has now been dropped. The new price for this house (that could be
) is $2,950,000.
It will probably need another drop....or 2.
(thanks to everyone who sent this in!)