A very plain-looking home just north of Toronto recently hit the market for $4,500,000, a list price that says a lot more about the value of land in the region than that of the house itself.

The home at 29 Boyle Drive is situated in Richmond Hill's South Richvale community, just a few hundred metres northwest of the arterial Highway 7 and the even busier Highway 407.

But despite the seemingly noisy location, the house's relatively small size, and its bland exterior, the property's listing price makes much more sense when you pull back for a wider view of the street and see that the home and its next-door neighbour are outliers on a block with massive lots and monster houses.

It's really the possibilities of the lot — measuring over 316 feet deep by over 138 feet wide — rather than the small-ish house occupying it, that command such a high price.

The listing places aerial photos of the approximately two-acre lot front and centre, and seemingly downplays the house itself.

That being said, it's a somewhat charming little home, if not a bit rough around the edges, with some visible exterior wear-and-tear and an overgrown front yard.

But stepping inside, you'll find an otherwise very well-maintained home that shows more obvious signs of life than your typical professionally-staged mega-property.

The living room is no showstopper, but is cozily appointed and features abundant natural light through its large windows.

The kitchen features a pretty wild colour combination of turquoise cabinetry set against earth-toned tile floors and backsplash.

A primary bedroom also contains a small home office.

The two-storey home has three bedrooms above ground, plus a spare in the basement.

Not that any of this will be considered by the buyer, given the likelihood that their first tenant will actually be a wrecking ball.

You can check out more photos of the home (or, more likely, the large lot it occupies) by visiting the listing.