There are many times in life I wish I was a trust fund baby or just rich so I could invest in real estate. This house is one of those moments.

The home is located near Dovercourt Park and is already split up into three one bedroom apartments, all with separate entrances, making it the perfect place to rent out. Even the listing said: “live in one, while the others pay your mortgage.”

You’d be foolish not to follow the listing's advice. The house is delightful and who doesn’t like help paying their mortgage?

The main floor unit is bright and warm with wooden floors. There’s also touches of character peppered throughout the suite, such as the antique pocket door.

The kitchen on the main floor seems like it was built in a hallway as an afterthought rather and the washing machine and dryer are very visible. But the essentials are there.  

Upstairs is the second unit, which has a big bay window and a really funky ceiling. It also walks out onto a sun-soaked deck.

The last apartment in the basement is one of the nicer basement units I’ve seen. There’s a big kitchen, spacious bedroom, and a four-piece bathroom.

Round back there's a comfortable backyard where you could throw a whole house BBQ. Although from the pictures it looks like it could use some sod. 

This place might not be a stunning mansion or luxury condo but it is one hell of a rental home and it's not even a little shocking that it went for more than its asking price.

The Essentials

• Address: 115 Salem Avenue
• Type: Semi-detached house
• Bedrooms: 2+1
• Bathrooms: 3
• Size: 17.75 x 102 feet
• Realtor: Forest Hill Real Estate, Lauren Miyazaki
• Hit the market at: $989,000
• Sold for: $1,100,000

Why it sold for what it did?

I’m guessing because someone saw this as a great investment opportunity. Monthly rent is around $3,300 in this area and there are three ready-to-move-in apartments. You do the math.  

Was it worth it?

Are you kidding? With the way rental prices are going in Toronto the mortgage will be paid off in no time and then once the mortgage is paid off you get rental income. I’m sure there are downsides to being a landlord but honestly, it seems like one of the easiest and most lucrative gigs out there right now.