Thanks to a blog dog for pointing this one out. Should you need more evidence we live in times we’ll all probably regret, dig in.

This 15-foot-wide frame row house in the massively untrendy Bloor & Bathurst area of Toronto has just sold for $541,000. Not only is that a gag, but some schlep shelled out $31,000 above the asking price in a bidding war for the privilege of owning a structure likely intended to have a 25-year life. More to the point, it sold in seven days with multiple offers.

To buy this home with the now-average 5% down would require just under $40K in cash ($27,050 deposit and $12,670 in land transfer tax), then then a monthly of $2,400, thanks to the soon-to-be-departed VRM at 3%. Upon renewal in 5 years at a very modest 6%, that becomes $3,300, requiring an income of $120,000 to quality. That’s about double what the average family takes in.

But what average Toronto family wouldn’t die to live in this hood, eh? In digs like this?

Here, for your amusement, is the way this sale was reported in The Toronto Star.

Cut it out. Paste it on the fridge. Let us record this moment.

Koreatown: $541,000
Bloor and Bathurst Sts.
Asking price: $509,900
Selling price: $541,000
Previous purchase price: $93,000 (1973)
Size: about 1,400 sq. ft.
Lot: 15-by-100 feet, double-car detached garage, lane drive
Taxes: $1,583 (2009)
Bedrooms: 5
Bathrooms: 2
Days on market: 7

Details: Selling for over asking price in one week, this three-storey freehold row house has five bedrooms and a finished basement with a separate entrance.

“This spacious home is well-maintained and has had many updates while keeping the original details intact,” says listing agent Les Raffay.

Highlights of the home include a decorative fireplace and a walkout to a third-floor retreat.

It is walking distance to Bloor St., while the subway, shops, schools and parks are a short distance away.

Main floor has living room with hardwood floor, fireplace and wood trim; dining room with hardwood, French doors and crown moulding; updated eat-in kitchen with hardwood; powder room.

On the second floor are master bedroom with hardwood and bay window; second bedroom with hardwood and track lights; third bedroom with hardwood; four-piece bathroom.
On the third floor are: fourth bedroom; fifth bedroom with wainscotting and walkout to sundeck.

Basement is finished with recreation room with French doors and separate entrance.

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