In 2006, this home sold for $175K. Now, it's beinglisted for $689,000. Oh, how the times change!

338 Highfield Rd. is a bit of a weirdo – at least when it comes to housing.

This backsplit house has the living room and bedroom on the main level, but the kitchen and bathroom are on the lower level.

The living room with a ladder up to the loft.

The home is also only 12 feet wide and has one bedroom (but two parking spots). There's also a loft, which is being advertised as a place for guests to sleep but probably should just be used for storage.

A patio.

But that's not even the strangest thing about this home.

The back of the house.

"According to a recent analysis by a firm specializing in laneway houses in Toronto, 338 Highfield Rd. likely qualifes for a laneway house build, under Toronto's brand new'Changing Lanes' guidelines," explained realtor Michael Elmenhoff.

The kitchen with a walk-out to the backyard.

"That means it's incredibly rare. Only about 30,000 Toronto properties qualify. It also adds about $250k to the value of the property."

The parking pad.

Not sure how that math works since the property itself doesn't change unless you add on or re-build it.

The bedroom.

Right now, it's just a one-bedroom, one-bathroom house that the listing says is "in good repair" despite the fact there's uncased windows and walls that have clearly been recently patched.

The bathroom.

Not exactly what we'd call "move-in ready", but regardless, there is potential.

A view of the backyard.

Since there's room for at least two cars on the property (plus a small shed), there's definitely room to create more space in this narrow house.

A covered porch.

But if anything, the location is good enough that if youdidknock down the house and build new, you'd definitely be looking at a return on investment.

According to Strata, homes in this area are going for an average of $1.4 million.

The storage shed at the back of the house.

So maybe the math does math — but only if you dump $500k into renovations or rebuilding.