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.

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16 Porter Ave Avenue

Rockcliffe-Smythe Toronto M6N 2G9

$599,000

Residential Freehold beds: 2+1 baths: 1.0

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• Details
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Status:

Active

Prop. Type:

Residential Freehold

MLS® Num:

W12276334

Bedrooms:

2+1

Bathrooms:

1

• Photos (41)

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RENOVATOR'S DREAM - UNLOCK THE POTENTIAL! Attention renovators, builders, and DIY visionaries - this is your golden opportunity! This property is bursting with potential and ready for your creative transformation. Owned by the same family for over 50 years, this cozy bungalow sits on a deep 131 ft lot with laneway access, offering multiple possibilities to maximize value and function. Renovate & Restore - Reimagine the existing bungalow to bring back its charm and character. A separate basement entrance offers flexibility for extended family or a flex space. Build New or Expand - The legal front pad parking and rear laneway access open up exciting options: Room for garage or 2-car parking in the back. Potential for a 2-storey laneway/garden suite up to 1,291 sq. ft. (see attached preliminary findings). Possible conversion of the main house into a 2-, 3-, or 4-unit dwelling with variances (report available). Prime Location - Urban Renewal in Progress! - Tucked on a quiet street just steps to Weston Rd., parks, schools, shopping, and more! 12-15 min. Walk or bus to Mount Dennis Station (Eglinton LRT). 13-15 min. bus ride to Keele Subway Station. This vibrant neighbourhood is on the rise, making it a smart long-term investment. Buyers to perform their own due diligence. Whether you're looking to restore, rebuild, or reimagine - this is the blank canvas you've been waiting for. Bring your ideas, passion, and a little elbow grease - the potential here is truly limitless!

General Info:

Property Type:

Residential Freehold

Property Sub Type:

Detached

Home Style:

Bungalow

Approx. Age:

51-99

Total Approx Floor Area:

< 700

Depth:

131'39.9 m

Frontage:

24'9"7.54 m

Topography:

Sloping

Direction Faces:

North

Bedrooms:

2+1

Bathrooms:

1.0

Water supply:

Municipal

Kitchens:

1

Bedrooms Above Grade:

2

Bedrooms Below Grade:

1

Kitchens Above Grade:

1

Rooms Above Grade:

5

Rooms Below Grade:

1

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Foundation:

Brick, Unknown

Roof:

Asphalt Shingle

Basement:

Separate Entrance, Partially Finished

Fireplace/Stove:

No

Garage:

None

Garage Spaces:

0.0

Parking Features:

Front Yard Parking, Lane, Private, Private Double

Parking Spaces:

3

Total Parking Spaces:

3.0

Family Room:

No

Possession Details:

IMMEDIATE/FLEX

Pool:

None

Link:

No

Financial Info:

HST Applicable To Sale Price:

Not Subject to HST

Taxes:

$3,174.71 / 2025

Assessment:

$- / -

Listing Area:

Toronto W03

Listing Sub-Area:

Rockcliffe-Smythe

County Or Parish:

Toronto

Property Features / Area Influences:

Fenced Yard, Golf, Library, Park, Public Transit, School

Interior Features:

Carpet Free, Primary Bedroom - Main Floor

Exterior Features:

Canopy

Rental Items:

Hot water tank rental aprox. $30 per month

Inclusions:

SOLD "AS IS WHERE IS"

Exterior Finish:

Aluminum Siding, Vinyl Siding

View:

City

Room Information:

Floor

Type

Size

Other

Main

Living Room

11'2"3.40 m × 9'5¾"2.89 m

Combined w/Dining, Hardwood Floor, Window

Main

Dining Room

11'2"3.40 m × 9'5¾"2.89 m

Combined w/Living, Hardwood Floor, Window

Main

Kitchen

11'2"3.40 m × 8'10"2.69 m

Eat-in Kitchen, Window

Main

Primary Bedroom

12'11⅛"3.94 m × 8'10"2.69 m

Closet, Window

Main

Bedroom 2

9'1½"2.78 m × 8'11"2.72 m

Hardwood Floor, Closet, Window

Basement

Recreation

19'7"5.97 m × 16'2"4.93 m

Vinyl Floor, Window, Irregular Room

Basement

Utility Room

20'10"6.35 m × 18'5¼"5.62 m

Other Details:

Utilities Cable:

Yes

Utilities Telephone:

Yes

Utilities Gas:

Yes

Utilities Hydro:

Yes

Utilities Water:

Yes

Sewers:

Yes

Special Designation:

Unknown

Sewers:

Sewer

Air Conditioning:

Central Air

Central Vacuum:

No

Seller Property Info Statement:

No

Listing Info:

Date Listed:

Jul 10, 2025

Original Price:

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Previous Price:

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Listed by RE/MAX PREMIER INC.

Data was last updated July 25, 2025 at 12:15 PM (UTC)

Area Statistics

Listings on market:

24

Avg list price:

$982,000

Min list price:

$599,000

Max list price:

$1,629,000

Avg days on market:

36

Min days on market:

4

Max days on market:

673

These statistics are generated based on the current listing's property type and located in Rockcliffe-Smythe. Average values are derived using median calculations. This data is not produced by the MLS® system.

Get market change alerts

• DARYL KING
• RE/MAX HALLMARK REALTY LIMITED
• 1 (905) 9075464
• homes@darylking.com

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.

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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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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.