Property Overview

This one-and-three-quarter storey home on Cavell Drive in Bruce Park is defined by its balance of a modest, functional living space and a relatively generous lot. Built in 1913, it is an older character home that presents a classic renovation or value-holding opportunity. Its appeal lies in its efficient footprint and its land value within a mature neighbourhood. The home suits practical buyers looking for an entry point into the area, investors interested in the lot's potential, or those comfortable with a project who prioritize location over a move-in-ready condition.

Key Characteristics & Ideal Buyer

• The Home: The house itself is compact at 1,201 sq ft of living space, which is average for its immediate area. It features a basement (not renovated) and a detached garage. Its age means systems and finishes likely require updating, positioning it as a candidate for modernization.
• The Land: The property sits on a 3,997 sq ft lot, which is above average for Cavell Drive. This offers valuable outdoor space and future potential that many newer infill properties lack.
• Value & Context: The assessed and recent sale values are consistently below average for the street, neighbourhood, and city. This indicates a pricing structure that acknowledges the home's age and condition, making it an accessible option in the market.
• Who It Suits: This property is a pragmatic choice. It would suit a first-time buyer or downsizer seeking lower carrying costs in a central location, a hands-on owner planning gradual renovations, or an investor viewing the lot as a long-term asset. It is less suited for those seeking a modern, low-maintenance home without immediate renovation plans.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean for this home?
This typically describes a home with a full main floor and a second floor where the roofline slopes into the walls, creating some rooms with reduced ceiling height. It's a common design for homes of this era and can offer cozy, character-filled bedrooms.

2. The assessed value seems very low. Is that accurate?
Yes, the assessed value is for taxation purposes and reflects the property's market value estimate from a past valuation date. Its consistent ranking below area averages aligns with the home's older age and unrenovated state compared to neighbours.

3. Given the lot size, is this a tear-down candidate?
While the lot is a valuable asset, the home's functional size and the presence of a basement and garage mean it may not be an immediate candidate for demolition. It is more likely seen as a renovation project, but the lot size does contribute to the property's underlying value.

4. How does the below-average sale price affect future value?
A recent sale near the assessed value suggests the market price has been set realistically. Future value will depend more on overall market trends and any investments made into modernizing the property, rather than catching up to a previous high price.

5. What are the main considerations for renovating a home from 1913?
Key priorities would include inspecting and potentially updating foundational elements, wiring, plumbing, and insulation to meet modern standards. While this requires investment, it allows a new owner to customize the space and improve energy efficiency within the classic character of an older home.