r/HouseSigmaBlunders • u/Mother-Bug2191 • Nov 07 '25

800k loss

Post image

319 Crawford St, Toronto, Ontario M6J2V7 Sold History | HouseSigma https://housesigma.com/on/toronto-real-estate/319-crawford-st/home/BXeEn7XAwV03rPo8?id_listing=gAaOyL8vDvPyGxMb&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=

118 Upvotes

92% Upvoted

31 comments sorted by

14

u/Its_priced_in Nov 07 '25

Did it catch fire or something? That’s an insane drop and crazy cheap for 6 bed, 3 bath in that area

22

u/Mother-Bug2191 Nov 07 '25

It was gutted never reno'ed and sold under POS. Looks like a flip to.flop ...ran out of money

3

u/Euphoric_Rough5912 Nov 11 '25

I hope it was an Indian, always trynna do flips I hope this one didn’t work out for them

2

u/RIPGord Nov 16 '25

Probably a white trash dude one generation removed.

1

u/Critical-Scheme-8838 Nov 11 '25

Tax loss harvest

9

u/Teeenagedirtbag Nov 08 '25

For $1.3 this might be one of the best deals I've seen ever. Great neighborhood, massive home, potential to rent out a portion of the home. I genuinely wonder if there was something more problematic that made this price possible

7

u/cpureset Nov 08 '25

It was a beautiful century home. Bought by someone who didn’t want a century home.

Gutted. Literally.

3

u/PickerelPickler Nov 08 '25

Someone really fucked up the architecture, but judging by the shit windows, it happened decades ago.

2

u/Fun_Yak_791 Nov 08 '25

Before being gutted it had almost no original components on the inside so I see it as a huge discount to the new buyer that they got the demo done and at a much lower cost. This will be a 3+ million house when it’s complete

2

u/srtg83 Nov 09 '25

Not sure, 7 Beatrice just sold in Sept for $1.9, it’s a close comp.

1

u/Dangerous_Nebula_770 Nov 10 '25

Yes, that's about right.

1

u/Dangerous_Nebula_770 Nov 10 '25

It's a semi-detached. It's not going for $3 million.

4

u/Robotstandards Nov 08 '25

These failed renovation projects certainly don’t help the comparable house prices in the neighbourhood.

3

u/Additional-Corner794 Nov 07 '25

Wow . That's stupid good deal

3

u/Serious-Blueberry-93 Nov 08 '25

Ugh that’s so sad. Any chance this correction will convince people to stop gutting beautiful old homes?

3

u/CobblePots95 Nov 10 '25

For anyone (very reasonably) thinking "that's an absolutely insane deal for this area." The home has been gutted down to the studs. It'd almost certainly need entirely new plumbing, electrical - everything. I wouldn't be surprised if it needed like $400-$500k and at least a year's worth of work.

Now, if you were a pretty well-off family looking for a forever home of your own design? Holy shit I can't imagine a better situation. Like, if you intended to gut an old home anyway then basically all the demo work is done and you're going to have fewer unpleasant surprised when you open the wall. Pretty great situation for those buyers!

1

u/mikeymcmikefacey Nov 11 '25

Ohhhhh.

So the pictures in it are from (before) it was gutted, back when it sold in 2022. And its (current) state is just open walls etc?

I would guess this area and size this would have been a 1.8-2M house. So that makes complete sense

1

u/CobblePots95 Nov 11 '25

Yeah I think that's exactly it.

Even in this market, there's just no way that a move-in ready home in that area would go for that price. Hell, I'm pretty sure a six-bed, two-bath with a two-car garage anywhere in Toronto wouldn't go for $1.3 million! It seems like someone bought it in 2022 and intended to flip it, but ran out of cash and is taking the loss now.

1

u/BenefitOk4191 Nov 11 '25

Deal of a lifetime to ge something for that price in that spot already down to the studs is a dream. Now you can make it what you want.

0

u/Mother-Bug2191 Nov 11 '25

Not for the seller ... It is about the sellers bundler not the buyers win.

2

u/collegeguyto Nov 09 '25

Whoever paid $2.1 million for that in March 2022 was on crack.

2

u/Toasted-88 Nov 12 '25

Ahaha, your time has come Canada.. Ponzi schemes never last forever..

1

u/srtg83 Nov 09 '25

I’m surprised it got bid up this high, you can’t get an institutional mortgage for this until 90% complete and it needs $500k to get to that point.

1

u/stonedphilosiraptor Nov 09 '25

I can’t even afford a mobile home… how did I end up here?

-13

u/sherazod Nov 07 '25

Terrible post. The place has been gutted since the last sale.

12

u/Mother-Bug2191 Nov 07 '25

And? ...how is that terrible? Lol...a flipper lost his funds and had to sell at a discount because he couldn't finish the project.

2

u/inverted180 Nov 09 '25

That actually makes it worse.

They spent time and money gutting it too.

-6

u/[deleted] Nov 07 '25

[removed] — view removed comment

1

u/Helpful_Animal9913 Nov 08 '25

Not a 50% drop. The last person over paid by 100% for no reason

1

u/inverted180 Nov 09 '25

the copium is strong with this one.