Property Summary: 1262 Riverwood Avenue

Key Characteristics & Buyer Profile

This is a 1,262-square-foot home built in 1948, sitting on a roughly 4,971-square-foot lot. The property’s standout feature is its above-average living space—larger than most homes in the Beaumont area and competitive citywide. However, its assessed value of $192,000 sits well below the street and neighbourhood averages, which suggests either dated interior conditions, a need for significant updates, or a location that hasn't kept pace with rising values in the immediate area.

The appeal here is practical rather than polished. For a buyer who values square footage over move-in condition, this property offers room to spread out at a price point far below the median for the street. The lot size is around average for the neighbourhood, which means yard space is usable but not expansive. The home’s age (1948) places it among older stock, so expect post-war construction quirks and potential updates needed in electrical, plumbing, or insulation.

This would suit a hands-on buyer—someone with renovation experience or a clear budget for upgrades—who is willing to trade immediate aesthetics for long-term equity potential. It’s less suited for someone seeking a turnkey home or a premium lot. For investors, the low assessed value relative to living area could signal a value-add opportunity, provided the location supports it.

Five Frequently Asked Questions

1. Why is the assessed value so low compared to neighbouring homes?
The assessed value reflects the city’s estimate of market value based on recent sales and property condition. Since this home ranks in the bottom 1% on Riverwood Avenue and bottom 7% citywide, it likely needs notable repairs or updates that suppress its appraisal. That said, low assessment can also mean lower property taxes, which is a practical advantage for an owner planning renovations.

2. Is the 1948 construction a concern?
Homes from that era often have solid framing but may lack modern insulation, updated wiring, or efficient windows. The building materials and layout can be charming, but expect to budget for systems upgrades within the first few years. It’s worth getting a specialized inspection that looks at knob-and-tube wiring, asbestos in old flooring or insulation, and lead paint.

3. How does the lot size compare to other properties in Beaumont?
At 4,971 square feet, the lot is around average for the area but ranks in the bottom 20% among Beaumont properties and bottom 11% on Riverwood Avenue. That means many nearby homes have larger yards. If outdoor space is a priority, you may feel slightly constrained, but it’s still functional for a garden, small shed, or patio.

4. Does this property make financial sense for a renovation?
It can, but the numbers need checking. With an assessed value 50% below the street average, there is potential to add value through strategic updates—especially to the kitchen, bathrooms, or curb appeal. However, since the living area is already above average, you’re not paying for extra space you’ll never use. Just be realistic: high-end finishes may not recoup costs if the neighbourhood ceiling is low, so aim for mid-range quality that matches the area.

5. What type of buyer typically goes for a home like this?
Often it’s first-time buyers willing to sweat equity, or investors looking for a rental with renovation upside. It also appeals to downsizers who want single-floor living (common in 1940s homes) but don’t need a big yard. Less common but worth noting: some buyers choose older homes for the mature landscaping trees or the quiet, established street feel that newer subdivisions lack.