Not for the faint of heart – 485 Clinton Street

They say you shouldn’t judge a book by its cover – but in this case, if you’re only judging the house by its “cover”, you might be in trouble… Serious (potentially financial) trouble.

Based on curb appeal alone, 485 Clinton Street looks pretty promising – red brick, nice porch, decent landscaping. With an asking price of $1,499,000, this 4 bedroom, 2 bathroom detached home with parking, actually seem pretty reasonable given the location.

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Until you check out the interior. We’ll just pause here for a moment to let you take this all in…

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The entranceway is not exactly welcoming – with hints of water damage (or something equally scary) happening with the ceiling.

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The excitement continues with the stairwell and prehistoric baby-gate type mechanism.

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While the living room could clearly benefit from some staging, all in all, it’s not too bad.

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While brick walls are typically a feature in Toronto homes, this curved brick archway doesn’t quite hit the mark.

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We’re not quite sure why these listing photos are featuring the very obvious water damage in the ceiling so prominently, but since this place has been on the market for nearly a month (since Nov 23), we’re kind of surprised they haven’t been updated with some that are a little less conspicuous. These guys could learn thing or two about the benefits of staging.

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At least the fully bricked kitchen features a bar fridge – we’re pretty sure a beverage or two will be required after purchasing this place (for anywhere near list price, that is).

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More ceiling gloriousness. Never mind the floors and walls (and bedding).485-clinton-st-14

Well, at least there’s a bay window.

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This room suggests someone tried to address the water issues at some point… And clearly just gave up.

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Yet another flooring material, with yet another ceiling tarp. Where will it end??

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We think the description of this space as “partly finished” is a bit generous.

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At least it has parking…

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Key Numbers:

  • Storeys – 2
  • Land Size – 18.17×130.00 FT
  • Approximate age – 100+ years
  • Asking price – $1,499,999

Renovation Estimation:

  • Estimated sale price: $1,350,000
  • Potential reno budget: $500,000 (or more!)
  • Total post-reno investment: $1,850,000

Final verdict: PASS

Despite its curb appeal and the fact that this is a detached, red brick beauty with parking (and relatively close to transit), we’re just not sold. We suspect this 100+ year old beauty will blast through that reno budget. Good luck to its future owner(s)!

What are your thoughts – any brave souls out there?

What are your bets for the sale price and potential reno costs?

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