Property Overview

This two-storey home on Waterloo Street in Central River Heights presents a compelling mix of established character and modern updates. Built in 1953, its key appeal lies in its generous proportions. With over 2,000 square feet of living space, it ranks well above average for size both on its street and in the wider neighbourhood. The home sits on a standard 5,000+ sqft lot and features a detached garage and a renovated basement, adding functional space.

Its primary draw is the combination of a highly desirable location and a home that offers more interior room than many of its peers. The property’s assessed value places it in an elite tier for Central River Heights, suggesting a home that has been well-maintained or improved relative to the area. It would particularly suit buyers looking for a character home in a prime neighbourhood who need more space than a typical bungalow offers, without the footprint of a brand-new build. The 2021 sale price indicates strong market recognition of its value. A thoughtful perspective is that while the lot size is typical, the above-average living area means the home makes efficient use of its land—a sign of a practical, family-friendly layout.

Frequently Asked Questions

1. How does the home’s age affect its value?
While built in 1953, the home is actually newer than many on its street and in Central River Heights, where average build years are 1946 and 1953 respectively. This, combined with a renovated basement, suggests it may have fewer major legacy upkeep issues than some older area homes.

2. Is the assessed value a reliable indicator of the likely sale price?
Not directly. The assessed value for taxation purposes is $67.9k, but the home last sold for $710k in 2021. The assessed value is useful for comparing the property’s municipal valuation to others, not for determining market value.

3. What does the "Elite" ranking for assessed value in the neighbourhood mean?
It means this home’s municipal assessment is in the top 2% of similar properties in Central River Heights. This typically reflects factors like size, condition, and improvements that the city recognizes as adding significant value compared to area norms.

4. The lot size seems average. Is that a drawback?
Not necessarily. The land area is typical for the street. The key feature is that the living space is significantly larger than area averages, meaning the home offers more interior room without requiring an oversized lot, which can be an efficient use of space.

5. How stable is the value in this area?
The sale history shows a significant increase from $37.5k in 2017 to $710k in 2021. While past performance isn’t a guarantee, the home is in a consistently sought-after neighbourhood where property values, especially for well-sized, updated homes, have shown considerable strength.