Looking for the cheapest house for sale in Toronto? While Toronto is known for its sky-high real estate prices, budget-conscious buyers can still find great deals in emerging neighbourhoods, older properties, or homes with renovation potential. Whether you’re a first-time buyer or investor, affordable housing opportunities do exist, if you know where to look.
16 Elise Terrace
Toronto
M2R 2X1
$699,000
Residential Freehold
beds: 3+2
baths: 3.0
- Status:
- Active
- Prop. Type:
- Residential Freehold
- MLS® Num:
- C12375203
- Bedrooms:
- 3+2
- Bathrooms:
- 3
- Photos (39)
- Schedule / Email
- Send listing
- Mortgage calculator
- Print listing
Schedule a viewing:
- Property Type:
- Residential Freehold
- Property Sub Type:
- Semi-Detached
- Home Style:
- Bungalow-Raised
- Total Approx Floor Area:
- 1100-1500
- Depth:
- 126'
- Frontage:
- 30'3"
- Direction Faces:
- East
- Bedrooms:
- 3+2
- Bathrooms:
- 3.0
- Water supply:
- Municipal
- Kitchens:
- 2
- Kitchens in Basement:
- 1
- Bedrooms Above Grade:
- 3
- Bedrooms Below Grade:
- 2
- Kitchens Above Grade:
- 1
- Rooms Above Grade:
- 6
- Rooms Below Grade:
- 2
- Heating type:
- Forced Air
- Heating Fuel:
- Gas
- Foundation:
- Unknown
- Roof:
- Asphalt Shingle
- Basement:
- Separate Entrance, Apartment
- Fireplace/Stove:
- No
- Garage:
- Built-In
- Garage Spaces:
- 1.0
- Parking Features:
- Private
- Parking Spaces:
- 1
- Total Parking Spaces:
- 2.0
- Family Room:
- No
- Possession Details:
- Tba
- Pool:
- None
- HST Applicable To Sale Price:
- Not Subject to HST
- Taxes:
- $4,976.97 / 2025
- Assessment:
- $- / -
- Toronto C07
- Newtonbrook West
- Toronto
- Park, Public Transit, Rec./Commun.Centre, School, Fenced Yard, Other
- Other
- No Rentals!
- 2019 Renovated! Furnace 2019, Kitchen Renovation 19, Fridge 19, Built-in Microwave 19, Dishwasher 19, Laminate Flooring 19, Pot Lights 19, 2,190Sqft (1,240Sqft+950Sqft) Living Space! 3+2 Bedrooms & 3 Bathrooms! Separate Entrance To Basement Apartment, Potential Rental Income of $3,000 + $1,900 + Utilities! 126ft Deep Lot With Private Backyard!
- Stucco (Plaster), Brick
- Floor
- Type
- Size
- Other
- Main
- Living Room
- 17'9" × 11'6"
- Combined w/Dining, Overlooks Frontyard, Pot Lights
- Main
- Dining Room
- 13'9" × 10'6"
- Combined w/Living, Open Concept, Pot Lights
- Main
- Kitchen
- 13'2¼" × 8'10"
- Eat-in Kitchen, Centre Island, Modern Kitchen
- Main
- Primary Bedroom
- 14'5" × 10'6"
- Double Closet, Large Window, Pot Lights
- Main
- Bedroom 2
- 13'3" × 8'11"
- Closet, Window, Pot Lights
- Main
- Bedroom 3
- 9'10" × 9'6"
- Double Closet, Window, Pot Lights
- Basement
- Bedroom
- 21'9" × 12'6¾"
- Closet, Above Grade Window, LED Lighting
- Basement
- Bedroom
- 18'6" × 12'2"
- Closet, Above Grade Window
- Special Designation:
- Unknown
- Sewers:
- Sewer
- Air Conditioning:
- Central Air
- Central Vacuum:
- No
- Seller Property Info Statement:
- No
- Ensuite Laundry:
- No
-
Renovated! -
Private Backyard
-
Open Concept Layout
-
Large Centre Island
-
Open Concept Layout
-
Pot Lights
-
Dining Room
-
Kitchen with Breakfast Bar
-
Pot Lights Throughout
-
Open Concept Layout
-
Kitchen with Breakfast Bar
-
Granite Countertop
-
Crown Moulding
-
Granite Countertop
-
Renovated Kitchen
-
Pot Lights
-
Primary Bedroom
-
2nd Bedroom
-
3rd Bedroom
-
Renovated 4pc Bathroom
-
Pot Lights
-
Separate Entrance to Bsmt
-
Basement Bedroom
-
3pc Bathroom
-
3pc Bathroom
-
Basement Bedroom
-
Bsmt Wet Bar
-
Bsmt Wet Bar
-
Separate Entrance to Basement
-
Separate Entrance to Basement
-
Separate Entrance to Basement
-
Built-in Garage
-
Built-in Garage
-
Private Backyard!
-
Backyard Patio
-
Loads of Privacy
-
126ft Deep Lot!
-
126ft Deep Lot!
-
Large Backyard Patio
- Listings on market:
- 14
- Avg list price:
- $1,093,500
- Min list price:
- $699,000
- Max list price:
- $3,800,000
- Avg days on market:
- 10
- Min days on market:
- 1
- Max days on market:
- 84
- DARYL KING
- RE/MAX HALLMARK REALTY LIMITED
- 1 (905) 9075464
- homes@darylking.com
Why Affordable Toronto Homes Are Worth Exploring
• Entry point into one of Canada’s hottest real estate markets
• Opportunity to renovate and build equity
• Perfect for investors seeking rental income
• Found in up-and-coming or transitioning neighbourhoods
• Lower property taxes and mortgage payments
What to Expect from the Cheapest Homes in Toronto
When browsing Toronto’s lowest-priced houses, you’ll often see:
• Bungalows, semi-detached, or older detached homes
• Smaller lot sizes or homes requiring updates
• Basic finishes or dated interiors
• Value-add potential with zoning flexibility or laneway options
• Proximity to transit, future developments, or outer boroughs
Neighbourhood Highlights Near Toronto’s Affordable Homes
Some of the cheapest houses in Toronto can be found in areas like Scarborough, Etobicoke, and parts of North York. These regions offer a mix of older inventory, multi-family zoning, and properties near GO transit or future development zones. While they may not boast luxury appeal upfront, they offer excellent long-term growth and accessibility.
Explore More GTA Homes:
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- Houses for Sale Richmond Hill under $500000
- Houses for Sale near Caledonia and Eglinton West
- Condos for Sale in Toronto Under $400K
- Aurora Homes For Sale
- Bradford Homes For Sale
- King City Homes For Sale
- Markham Homes For Sale
- Newmarket Homes For Sale
- Richmond Hill Homes For Sale
- Thornhill Homes For Sale
- Toronto Homes For Sale
- Brampton Homes For Sale
- Uxbridge Homes For Sale
- Vaughan Homes For Sale
- Stouffville Homes For Sale
- Mississauga Homes For Sale
Each link provides updated listings and expert insights.
FAQs – Cheapest House for Sale in Toronto
1. What is the lowest price for a house in Toronto right now?
As of this month, listings can start as low as $500,000, especially in areas needing renovation or further from the downtown core.
2. Are cheap houses in Toronto a good investment?
Yes, if you’re willing to renovate or rent. Properties under market value tend to appreciate faster when updated.
3. Can I get a mortgage for a fixer-upper home?
Absolutely. Some lenders offer renovation financing options for older or distressed homes.
4. What type of buyer usually targets low-priced homes?
First-time buyers, flippers, and long-term investors looking to add value are most common.