$825,000 - 378 O'Connor Drive, Danforth
Detached for Sale in Danforth
42 days on market- MLS Number
- E13079944
- Property Type
- Detached
- Status
- active
- Days on Site
- 42
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Danforth / East York
- Lot Size
- 3,283 sqft
- Listing Brokerage
- RE/MAX HALLMARK SHAHEEN & COMPANY
This distinguished detached bungalow offers exceptional income potential, outstanding structural integrity, and significant redevelopment opportunities. Thoughtfully designed and well constructed, this 2+1 bedroom residence presents an ideal opportunity for buyers seeking both immediate returns and substantial long term upside.The main level welcomes you with a bright, open concept living and dining area graced by rich hardwood floors, recessed pot lighting, and a handsome fireplace. The generous kitchen features stainless steel appliances and ample space for culinary pursuits. Two spacious bedrooms on the main floor provide exceptional convenience for families or those preferring single level living.The lower level is particularly impressive, a fully finished, self contained in law suite with its own private side entrance, complete with a full kitchen, living area, and additional bedroom. This thoughtfully configured layout offers seamless income potential, whether you choose to reside upstairs while leasing the lower unit or rent the entire property for strong, reliable cash flow. The expansive private backyard provides a tranquil setting for outdoor entertaining or future expansion, complemented by a rare three car private driveway and detached garage. Notable redevelopment potential: Set on a generous lot with solid foundations, the property lends itself beautifully to thoughtful enhancements, including a rear extension, the addition of a second storey, or a complete teardown to create a new custom residence. It also falls within the well regarded Diefenbaker Public School catchment, further enhancing its desirability and demand. This is a rare opportunity to acquire a turnkey income generating property with excellent bones, superior in law configuration, and meaningful upside for renovation or redevelopment. An elegant foundation ready for your personal vision.
Estimate your monthly payments for this property
Estimated Payment
$4,232.68/mo
Includes CMHC insurance ($23,018)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Danforth / East York
Danforth / East York is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Danforth / East York
- •Convenient location in Danforth / East York
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Danforth / East York offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
378 O'Connor Drive, Danforth / East York
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Premium Pricing
At $1179/sqft, this property is priced above the Danforth average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 42 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Danforth are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Investment Perspective
Looking at this as an investment: Danforth properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,438 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.