Toronto-List Real Estate: 394 College Street

Torontoist is somewhat obsessed with following the local real estate market, albeit a hobby done mostly in vain. While we would love to actually participate in buying and selling, our fascination with all things property is a pastime devoted to monitoring: who's purchasing where, how that house was flipped, and what the current price tag is for each neighbourhood.

This week a familiar site appeared in the listings: The building which contains the quietly-trendy bar "Cloak and Dagger" is up for sale. For $699,990 (about the price of a Leaside bungalow) you can purchase both the College Street commercial property and the newly-renovated 3-bedroom loft apartment above it.

Torontoist thought grabbing this deed would be a great way to make some extra cash—the listing states that the Dagger's lease runs $2950 and that the apartment can rent for $2500. However, when Dad did the math it was discovered that the insurance, property tax, utilities, and mortgage would take up most of that additional income.

So, back to scanning MLS.ca listings it is, until the end of the week—at which point our obsession reaches its height with the publication of the newspapers' Homes and Real Estate sections. Long-weekend open houses, here we come!