East York Bungalows High Rental Demand – Episode #117
We are in the north east quadrant of East York and what I am experiencing is very strong demand for 3 bedroom bungalows. Not only are these bungalows selling like “hot cakes”, but the rental demand is just as hot…maybe even hotter!
After listing a 3 bedroom bungalow for rent, the first day I had 14 showings and 7 rental applications! People were ready to fight over this place! It was insane! And the amazing thing was that every single one of these potential tenants were excellent candidates.
Bungalows in this area rent anywhere between $1500-$3000 and sell between $400,000 – $800,000 depending on many different variables i.e. quality of finishes, property size, location, ravine setting, perceived value, renovations, sense of security, close to amenities, shopping and transportation.
East York still remains one of the most affordable places to buy a bungalow being only minutes away from Downtown Toronto!
If you have any questions about bungalows in East York and the potential resale value and rental value, please feel free to contact me.