Deep 150-foot lot with approved building plans in Scarborough

Property details for 121 Preston Street, Toronto

Type: Residential
Style: Bungalow
Bedrooms: 2
Bathrooms: 1
Lot Size: 24.6 x 150 FT
Stories: 1
Basement: None
Parking: No Garage
Heating: Forced air, Natural gas
Cooling: None
Exterior: Aluminum siding, Brick Facing
Ownership: Freehold
Annual Taxes: $3,507

This 2-bed, 1-bath bungalow at 121 Preston St is all about the dirt. You're buying a 24.6 x 150 ft lot with approved plans for a modern residence, plus a solid 1950s brick and aluminum bungalow that rents for income while you decide when to build. The house itself is well-maintained and move-in ready if you just want to live there. Aluminum siding and brick facing keep exterior upkeep low. Inside, it's laid out with a living room, sunroom, kitchen, two bedrooms, a study, and a separate laundry room on one floor. Basement? None. So what you see is what you get, but with that deep lot there's room to expand outward if you don't build up. Forced air gas heat, but no central AC. You'll rely on window units. Parking for two cars off the laneway, no garage. The fenced yard gives you privacy and space for kids or dogs. Taxes run about $3,506 annually. Location-wise, you're near Woodrow and Highview parks, both within a 10-minute walk, and Bluffer's Park is a 25-minute stroll. Scarborough GO is roughly 17 minutes away by bus, with a street-level stop three minutes from your door. Schools including Birchmount Park Collegiate are in the 1-3 km range. Sold price in the area averages $465,000, so at $599,000 you're paying a premium for the land and approval potential. This one's rarer than the usual starter, given the development upside.

About 121 Preston Street, Toronto — Property Score

Well Priced

Score: 61/100

Value

Priced 40.1% below area median of $999,999 based on 263 comparable properties nearby 100

Stable pricing - no price changes since original listing date 50

Size

2 bedrooms - 1 fewer than similarly priced 3-bedroom homes nearby 48

1 bathroom - 1 fewer than similarly priced properties nearby 48

3,690 sqft lot - a compact lot for the area 55

Location

$60K median household income - below the Canadian average of $70K 60

73% of residents hold postsecondary credentials - a highly educated neighbourhood 82

67% homeownership rate - a balanced mix of owners and renters 77

40% of residents commute under 30 minutes - good commuting convenience 62

6,305/km² population density - an urban neighbourhood 65

Market

Just listed - area average is 58 days on market 100

-99.1% median price change over 1 month - declining prices in the area 1

37.5 months of housing supply - 2961 active listings with 79 sold last month (buyer's market) 40

Features

2-car garage - area average is 4.2 spots 80

None basement 30

efficient gas forced air heating 80

None 30

No premium extras like pool, waterfront, or view 50

Investment

0.59% effective tax rate ($3,506/yr) - very low tax burden 82

30% renter population - primarily owner-occupied area 66

Quality

Condition

Listing

24 photos provided - below the area average of 36 photos 92

6 of 7 key property details provided (86%) - comprehensive listing with excellent detail 86

* This property score is an approximate estimate based on publicly available data, nearby comparable listings, and automated analysis. Scores are for informational purposes only and should not be relied upon as professional appraisals or investment advice. Actual property values may vary. We recommend consulting a licensed real estate professional for accurate assessments.