With all the talk about rising house prices and how a family can’t get a detached home in the city for less than a million dollars, we did some digging to see how far $500,000 truly goes.

Within the last year, a three-bedroom, one-bathroom home on Westmount Avenue in Corso Italia sold for $460,000. Over in Oakwood Village, a detached bungalow with one bedroom and one bathroom on Cedric Avenue sold for $472,000.

They may not be your ultimate dream home, but they have potential.

For more GTA real estate coverage, see our 10th Annual Real Estate Roundtable panel discussion.