Property Overview

This 1953 one-storey home on a generous 5,998 sqft lot in Central River Heights presents a specific and appealing opportunity. Its key appeal lies in the combination of a large, above-average lot in a desirable neighbourhood with a home that has a renovated basement, offering immediate usable space. The detached garage adds practical value. The living area (1,006 sqft) is modest compared to area averages, positioning this as a home with solid fundamentals where the value is more in the land and location than in square footage.

It would suit a first-time buyer or downsizer looking for a manageable footprint in a prime location without a massive renovation project, thanks to the updated basement. It's also a potential candidate for a long-term land-hold, appealing to those who value the future potential of the lot itself as much as the current home. The assessed value is notably lower than its last sale price, which may indicate market perception of value beyond the municipal assessment.

Frequently Asked Questions

Is the house small for the neighbourhood?
Yes, the living area is below average for both Oxford Street and Central River Heights. This is reflected in the home’s structure and is a key characteristic to consider for space needs.

What does "renovated basement" typically mean here?
While specifics aren't listed, in a 1953 home this often means updated finishes and possibly a legal or comfortable secondary living space, adding valuable functional area to the modest main floor.

Why is the assessed value so much lower than the last sale price?
The assessed value ($39.5k) is for taxation purposes and often doesn't reflect market value. The 2021 sale at $420k is a more accurate indicator of its market price, highlighting the premium for location and lot size.

How does the lot size compare?
The lot is above average for the immediate street and neighbourhood, ranking in the top 40% on Oxford Street. This is a significant asset, offering more outdoor space than many nearby properties.

Is the 1953 build date a concern?
The year built is actually above average for the street, meaning the home is newer than many in its immediate vicinity. However, buyers should still anticipate maintenance consistent with a home of this age.