118 The Bridle Path

Property Overview

This two-storey home on The Bridle Path offers a classic family layout with notable recent value appreciation. Its key appeal lies in being a well-maintained, turnkey property in a mature neighbourhood. The 1,628 sqft home sits on a spacious 4,994 sqft lot and features a finished basement, an in-ground pool, and an attached garage. Built in 1981, it presents a balance of established character and functional space.

The home is particularly suited to buyers looking for a move-in-ready property with outdoor recreational space, without the need for a major renovation. Its strong, above-average performance in recent sales within its immediate area suggests it is perceived as a premium offering on its street. This would appeal to a practical buyer who values both community stability and tangible investment growth, as evidenced by its swift and significant price increase over the past year.

Key Questions for Consideration

1. What does the recent sale history indicate?
The property sold for $525,000 in August 2023 and then for $568,000 in July 2024. This rapid appreciation suggests strong demand for well-presented homes in this specific location, but buyers should investigate local market conditions to understand future potential.

2. How does the home compare to others in the area?
The data shows a contrast: while the home ranks very high for its recent sale price on its street (top 2%), its living area and lot size are more average for the broader community. This implies its value is driven by factors beyond sheer size, likely including its condition, updates, and the desirable pool feature.

3. What are the implications of the in-ground pool?
The pool is a major recreational asset for summer months but requires consideration for ongoing maintenance, safety, insurance costs, and seasonal upkeep. It significantly enhances the lifestyle appeal but adds to the annual responsibilities of homeownership.

4. Is the 1981 build year a concern?
While the home is 45 years old, its above-average ranking for age in the neighbourhood (top 27%) indicates many surrounding homes are older. A thorough inspection is crucial to assess the condition of major systems like roof, plumbing, and electrical, which may be original or partially updated.

5. How does the assessment value relate to the sale price?
The latest assessed value is $468,000, which is substantially below the recent sale price of $568,000. This is common in a active market, where assessments often lag behind current selling prices. It does, however, indicate that property taxes are currently based on the lower assessment figure, with a potential increase following the recent sale.