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Classic 1950s bungalow receives seven bids

Done Deal, 532 Caledonia Rd., Toronto

532 CALEDONIA RD., TORONTO

ASKING PRICE $499,000

SELLING PRICE $640,000

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PREVIOUS SELLING PRICE $270,000 (2007)

TAXES $2,442 (2015)

DAYS ON THE MARKET Four

LISTING AGENT Motria Dzulynsky, Re/Max Professionals Inc.

The Action: Over the course of three days, about 40 buyers descended on this detached bungalow on a 29-by-142-foot lot. A pre-emptive offer $100,000 over the asking price was submitted, but the following day brought six more, for a total of seven bids, including one proposing a $140,000 premium.

What They Got: Aside from a new roof, this 1950s bungalow hasn't changed its appearance much with its classic brick façade outside and hardwood floors in the living room, dining area and two bedrooms.

Operations still run smoothly in the eat-in kitchen and two bathrooms, plus the electrical, heating and cooling systems were updated in the last few years.

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An Extra bedroom and recreation area are located in the basement, which has a side entrance to the driveway and detached garage.

The Agent's Take: "Although it needs work, it's a very solid house with a garage and private drive," says agent Motria Dzulynsky. "It was a deep lot, west-facing, so it was bigger than many of them in the area."

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