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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53 Twenty Fourth Street

Long Branch Toronto M8V 3N3

$499,000

Residential Freehold beds: 4 baths: 2.0

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Status:

Active

Prop. Type:

Residential Freehold

MLS® Num:

W14116138

Bedrooms:

4

Bathrooms:

2

• Photos (35)

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Welcome to 53 Twenty Fourth Street, a versatile property tucked away in a quiet pocket of Long Branch on a deep and private 25ft x 129 ft lot. Offering flexibility for investors, first-time buyers, multi-generational families, or end-users looking to offset their carrying costs with rental income, this property presents an exciting opportunity in one of South Etobicoke's most desirable lakeside communities.The home currently features two living spaces with separate entrances. The front unit offers 2 bedrooms, 1 bathroom and a full kitchen, while the rear unit, accessed from the backyard, features 1 bedroom, 1 bathroom and its own kitchen.Live in one unit while generating rental income from the other, accommodate extended family, or explore the property's future income-producing potential. The generous lot may offer opportunities to create additional living space or units, including potential for a garden suite, subject to applicable zoning, permits, municipal approvals and buyer due diligence.Set in a family-friendly neighbourhood known for its charm, character and strong sense of community, the property is within walking distance of shops, schools, restaurants, parks, Lake Ontario, beaches and public transit, with convenient access in and out of the city.A unique opportunity combining location, flexibility, rental potential and long-term possibilities in the heart of Long Branch.

General Info:

Property Type:

Residential Freehold

Property Sub Type:

Detached

Home Style:

1 1/2 Storey

Total Approx Floor Area:

700-1100

Lot Depth:

129'39.3 m

Lot Frontage:

25'7.62 m

Direction Faces:

East

Bedrooms:

4

Bathrooms:

2.0

Water supply:

Municipal

Kitchens:

2

Bedrooms Above Grade:

4

Kitchens Above Grade:

2

Rooms Above Grade:

3

Rooms Below Grade:

2

Additional Info:

Heating type:

Forced Air

Heating Fuel:

Gas

Foundation:

Concrete

Roof:

Asphalt Shingle

Basement:

None

Fireplace/Stove:

No

Garage:

Other

Garage Spaces:

0.0

Parking Features:

Available

Parking Spaces:

1

Total Parking Spaces:

2.0

Family Room:

Yes

Possession Details:

Flexible/30/60

Pool:

None

Link:

No

Financial Info:

HST Applicable To Sale Price:

Included In

Taxes:

$3,461 / 2025

Assessment:

$- / -

County:

Toronto

Listing Area:

Toronto W06

Listing Sub-Area:

Long Branch

Interior Features:

Other

Exterior Finish:

Vinyl Siding

Elevator:

No

Retirement:

No

View:

City

Other Details:

UFFI:

No

Special Designation:

Other

Sewers:

Sewer

Air Conditioning:

Central Air

Central Vacuum:

No

Seller Property Info Statement:

No

Listing Info:

Date Listed:

Oct 26, 2026

Original Price:

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Previous Price:

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Listed by RE/MAX REALTRON REALTY INC.

Data was last updated November 12, 2026 at 06:15 AM (UTC)

Area Statistics

Listings on market:

28

Avg list price:

$1,223,750

Min list price:

$499,000

Max list price:

$7,398,000

Avg days on market:

36

Min days on market:

1

Max days on market:

164

These statistics are generated based on the current listing's property type and located in Long Branch. 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.

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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.