4 Drake Cres
Cliffcrest, Scarborough, M1M 1A2
FOR SALE
$799,000
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Property Description
Rare opportunity for renovators, builders, and visionaries! This property is being sold **as-is, where-is** with no warranties, offering a chance to transform it into your ideal home in a sought-after location. Situated directly across from Scarboro Crescent Park, this lot features a clear view of Lake Ontario and is surrounded by newly built two-story homes, showcasing the potential of the area. Enjoy being within walking, biking, or driving distance to the stunning Scarborough Bluffs, and take advantage of nearby amenities like St. John Henry Newman Catholic High School, Fairmont Public School, Chine Drive Public School, and local hotspots like Birchmount Stadium, Variety Village, and Cliffside Plaza. Commuting is easy with TTC bus access to Kennedy, Warden, and Victoria Park subway stations, as well as quick access to Kingston Road for a fast route to downtown Toronto. Currently, the home includes 3 bedrooms and 1 bathroom, ready for renovation or redevelopment. This is your chance to secure a prime location with endless potential!
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Nearby Intersections
Midland & Kingston (74)
Property Features
Clear View, Lake/Pond, Park, Public Transit, Rec Centre, School
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Property Details
Street
Community
City
Property Type
Detached, Bungalow
Lot Size
52' x 126'
Acreage
< .50
Lot Irregularities
25.19 Ft Back
Fronting
North
Taxes
$5,815 (2024)
Basement
Full
Exterior
Brick
Heat Type
Radiant
Heat Source
Oil
Air Conditioning
None
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
None
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Scarborough Market Statistics
Scarborough Price Trend
4 Drake Cres is a 3-bedroom 1-bathroom home listed for sale at $799,000, which is $502,554 (38.6%) lower than the average sold price of $1,301,554 in the last 30 days (November 11 - December 10). During the last 30 days the average sold price for a 3 bedroom home in Scarborough declined by $12,832 (1.0%) compared to the previous 30 day period (October 12 - November 10) and up $52,712 (4.2%) from the same time one year ago.Inventory Change
There were 715 3-bedroom homes listed in Scarborough over the last 30 days (November 11 - December 10), which is down 10.6% compared with the previous 30 day period (October 12 - November 10) and up 21.2% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Scarborough typically sold ($5,582) (0.4%) below asking price over the last 30 days (November 11 - December 10), which represents a $7,177 decrease compared to the previous 30 day period (October 12 - November 10) and ($6,672) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Scarborough over the last 30 days (November 11 - December 10) stood at 75.2%, up from 67.0% over the previous 30 days (October 12 - November 10) and up from 60.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 1-bathroom home in Scarborough stood at 21 days when successfully sold over the last 30 days (November 11 - December 10), compared to 55 days before being removed from the market upon being suspended or terminated.Listing contracted with Sutton Group-Admiral Realty Inc.
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