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.
5 Gillespie Avenue
Toronto
M6N 2Y5
$629,000
Residential Freehold
beds: 3
baths: 2.0
- Status:
- Active
- Prop. Type:
- Residential Freehold
- MLS® Num:
- W12585760
- Bedrooms:
- 3
- Bathrooms:
- 2
- Photos (12)
- Schedule / Email
- Send listing
- Mortgage calculator
- Print listing
Schedule a viewing:
- Property Type:
- Residential Freehold
- Property Sub Type:
- Semi-Detached
- Home Style:
- 2-Storey
- Approx. Age:
- 100+
- Total Approx Floor Area:
- 1100-1500
- Lot Depth:
- 118'6"
- Lot Frontage:
- 21'5½"
- Lot Shape:
- Rectangular
- Topography:
- Flat
- Direction Faces:
- East
- Bedrooms:
- 3
- Bathrooms:
- 2.0
- Water supply:
- Municipal
- Kitchens:
- 1
- Bedrooms Above Grade:
- 3
- Kitchens Above Grade:
- 1
- Rooms Above Grade:
- 6
- Zoning:
- R9d0.6
- Heating type:
- Forced Air
- Heating Fuel:
- Gas
- Foundation:
- Brick
- Roof:
- Asphalt Shingle
- Basement:
- Development Potential
- Fireplace/Stove:
- No
- Garage:
- None
- Garage Spaces:
- 1.0
- Parking Features:
- Lane
- Parking Spaces:
- 1
- Total Parking Spaces:
- 1.0
- Family Room:
- No
- Possession Details:
- Flexible
- Pool:
- None
- HST Applicable To Sale Price:
- Not Subject to HST
- Assessment:
- $560,000
- Assessment Year:
- 2025
- Development Charges Paid:
- Unknown
- Taxes:
- $5,000 / 2025
- Assessment:
- $560,000.00 / 2025
- Toronto
- Toronto W03
- Weston-Pellam Park
- Water Heater
- Brick, Shingle
- Garden
- Floor
- Type
- Size
- Other
- Main
- Living Room
- 10'10" × 10'10"
- Main
- Dining Room
- 12'2" × 9'6"
- Main
- Kitchen
- 14'5¼" × 10'2"
- Second
- Primary Bedroom
- 14'5¼" × 9'6"
- Second
- Bedroom 2
- 12'2" × 9'6"
- Second
- Bedroom 3
- 12'2" × 9'6"
- Energy Certification:
- No
- Green Property Information Statement:
- No
- Special Designation:
- Unknown
- Sewers:
- Sewer
- Air Conditioning:
- None
- Central Vacuum:
- No
- Seller Property Info Statement:
- No
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- Listings on market:
- 29
- Avg list price:
- $989,000
- Min list price:
- $599,000
- Max list price:
- $1,499,900
- Avg days on market:
- 61
- Min days on market:
- 6
- Max days on market:
- 169
- 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
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- 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.