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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NEXT Open House details

Oct 24, 2026 02:00 PM - 04:00 PM EDT

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31 Thora Avenue

Oakridge Toronto M1L 2P7

$639,900

Residential Freehold beds: 2 baths: 2.0

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Open House - Oct 24, 2026

02:00 PM - 04:00 PM EDT

NOTES: Open House on Saturday, October 24, 2026 2:00PM - 4:00PM

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Status:

Active

Prop. Type:

Residential Freehold

MLS® Num:

E13855862

Bedrooms:

2

Bathrooms:

2

• Photos (28)

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STOP THE SEARCH-YOUR PERFECT STARTER HOME IS HERE!Tired of paying rent when you could be building equity? This super-cute 2-bedroom, 2-bathroom semi-detached bungalow is packed with possibilities and ready for its next owner!Step inside to a bright, open-concept living and dining area featuring spectacular new flooring - the perfect space for relaxing, entertaining and making yourself at home. The separate, formal kitchen is a dream for those who love to cook (and a great place to close the door and hide the mess!). With tons of cupboard and counter space, there is plenty of room for family meals and entertaining friends. The main floor keeps getting better. One bedroom offers a walkout to a spacious deck and private backyard, creating an ideal spot for morning coffee, summer BBQs or simply enjoying your own outdoor space.Need more room? You've got it! The basement offers excellent ceiling height and above-grade windows, making it incredibly versatile for guests, in-laws, family, a home office or additional living space. Plus, with a separate entrance, kitchen and 3-piece bathroom, there is potential for a secondary living arrangement or rental opportunity - buyer to verify permitted use and requirements. Outside, you've got a mutual drive, parking and a sizeable garage - a rare and valuable bonus in the city.And then there's the location! You get the best of both worlds - tucked into a great neighbourhood while being just minutes from the funky shops, restaurants and cafés of Kingston Road/Upper Beach-with the Danforth right at the end of the street. TTC is close by, and a quick walk gets you to the GO Train, making commuting to the core a breeze. Add in great schools, parks, shopping, big-box stores and plenty of everyday conveniences, and you've got a home that checks a whole lot of boxes.Whether you're a first-time buyer, downsizer, investor or simply looking for a great place to call home, 31 Thora Avenue is one you don't want to miss!

General Info:

Property Type:

Residential Freehold

Property Sub Type:

Semi-Detached

Home Style:

Bungalow

Total Approx Floor Area:

700-1100

Lot Depth:

98'29.9 m

Lot Frontage:

24'10"7.57 m

Direction Faces:

East

Bedrooms:

2

Bathrooms:

2.0

Water supply:

Municipal

Kitchens:

2

Kitchens in Basement:

1

Bedrooms Above Grade:

2

Kitchens Above Grade:

1

Rooms Above Grade:

4

Rooms Below Grade:

1

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Foundation:

Concrete Block

Roof:

Asphalt Shingle

Basement:

Apartment, Separate Entrance

Fireplace/Stove:

No

Garage:

Detached

Garage Spaces:

1.0

Parking Features:

Mutual

Parking Spaces:

2

Total Parking Spaces:

2.0

Family Room:

No

Possession Details:

30/60 TBD

Pool:

None

Financial Info:

HST Applicable To Sale Price:

Included In

Taxes:

$3,341 / 2025

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto E06

Listing Sub-Area:

Oakridge

Interior Features:

Primary Bedroom - Main Floor, Storage

Inclusions:

See Schedule C

Exclusions:

See Schedule C

Exterior Finish:

Brick

Room Information:

Floor

Type

Size

Other

Main

Living Room

1'.30 m × 0'4".10 m

Combined w/Dining, Open Concept

Main

Dining Room

0'4".10 m × 0'4".10 m

Combined w/Living, Open Concept

Main

Bedroom

0'4".10 m × 0'4".10 m

W/O To Patio, Closet

Main

Bedroom 2

0'4".10 m × 0'4".10 m

Window, Overlooks Backyard

Main

Kitchen

0'4".10 m × 0'4".10 m

Formal Rm

Basement

Living Room

0'4".10 m × 0'4".10 m

Window

Basement

Kitchen

0'4".10 m × 0'4".10 m

Other Details:

Green Property Information Statement:

No

Special Designation:

Unknown

Sewers:

Sewer

Air Conditioning:

Central Air

Central Vacuum:

No

Seller Property Info Statement:

No

Laundry Level:

Lower Level

Listing Info:

Date Listed:

Oct 02, 2026

Original Price:

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Previous Price:

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Listed by RE/MAX HALLMARK REALTY LTD.

Data was last updated October 24, 2026 at 01:15 PM (UTC)

• 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:

• Condos for Sale in Toronto Under $350K
• Waterfront Cottages for Sale in Ontario under $300000
• 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
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• Newmarket Homes For Sale
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• Thornhill Homes For Sale
• Toronto Homes For Sale
• Brampton Homes For Sale
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• Stouffville Homes For Sale
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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.