I guess this was worth the risk, since the sellers seem satisfied

160 Bedford Road

160 Bedford Road

160 Bedford Road sold in 2016 for $2.2 million. The buyers spilt off four of its 8 acres and put that lot up for sale at $1.1 million, then completely rebuilt the existing house, and have just sold it for $2.450 million, its full (final) asking price.

The listing's description of a full-rebuild is believable: the existing house was a complete wreck, while the current iteration is like new. I'm guessing that that renovation cost, ballpark, $500,000. Assuming the extra lot fetches $800,000, the owners are in for $2.7, and they'll eventually get $3.250 million. Obviously, my numbers are just guessing, but I don't think I'm too far off. If I'm right, then that will be $550,000 on a $2.7 investment, which certainly isn't bad.

But all that assumes that the extra lot will sell, and so far, it hasn't: as of today, the owner/flippers are still underwater.