Property Overview

This one-storey home on a mature, tree-lined street in Central River Heights presents a specific and appealing opportunity. Built in 1953, it sits on a standard 5,029 sqft lot. The home itself is notably compact at 1,003 sqft of living space, but it features a renovated basement and a detached garage. Its most recent sale was in June 2023 for $350,000.

Key Characteristics & Appeal

The primary appeal of this property lies in its location and its potential as a manageable project. It suits first-time buyers, downsizers, or investors looking for an entry point into the desirable Central River Heights neighbourhood without the premium price of a larger, fully updated home. The renovated basement adds functional living space, while the detached garage is a valuable asset in this area.

A less obvious perspective is that the home’s smaller living area and below-average assessed value for the street could represent a lower property tax burden relative to neighbours, which is a practical long-term benefit. Furthermore, its lot size is perfectly average for the area, offering a balanced outdoor space that is neither overwhelming nor too confined—ideal for someone who wants a yard without excessive maintenance. The character of the neighbourhood and the solid lot are the key assets here, with the house itself offering a functional canvas.

Frequently Asked Questions

1. Is the house in need of major updates?
While specific interior conditions aren't detailed, the data suggests the home is modest and smaller than most on the street. The basement has been renovated, but the main living area may require modernization to suit contemporary tastes.

2. How does the sale price compare to its assessed value?
The home sold for $350,000 in 2023, which is significantly higher than its $39,100 assessed value. This is not uncommon, as assessed values for tax purposes often lag behind market sale prices, especially in active neighbourhoods.

3. What is the significance of the "below average" living area ranking?
This means the home's interior square footage is smaller than many comparable homes on the same street and in the wider neighbourhood. It indicates a cozier, more efficient layout, which can be appealing for those seeking lower utility costs and less space to maintain.

4. Are the year-built rankings a concern?
No. The rankings show the home is "above average" for its street and neighbourhood, meaning it is newer than many surrounding properties. Built in 1953, it is a typical mid-century home for the area.

5. What are the advantages of a detached garage?
A detached garage provides flexible space for vehicles, storage, or a workshop. It can also offer more design freedom for future landscaping or home expansions, as it is separate from the main house structure.