Property Overview & Key Characteristics

This one-storey home on a generous 5,171 sqft lot in Central River Heights presents a specific and compelling value proposition. Its primary appeal lies in the land itself—a lot size that ranks in the top 25% on its street—offering ample outdoor space and potential in a well-established neighbourhood. The house, built in 1953, is newer than many in the immediate area and features a renovated basement and a detached garage. With a modest 1,024 sqft of living space and an assessed value that sits below the street average, this property is less about move-in-ready grandeur and more about foundation and possibility.

It would suit a practical buyer who prioritizes lot size and location over square footage, such as a first-time homeowner comfortable with a smaller footprint, or an investor/renovator who sees value in the solid lot, newer-build year (for the street), and the already-completed basement work. It’s a property for those who view a home as a long-term asset where the land is the key investment, and the house can be adapted over time.

Frequently Asked Questions

Q: The living space seems small. How does the layout function?
A: The home’s 1,024 sqft footprint indicates efficient, compact living. The renovated basement is a key feature, effectively adding functional space for a family room, office, or additional bedrooms not reflected in the main floor living area square footage.

Q: How does the assessed value compare to the last sale price?
A: The property was last sold in August 2022 for $415,000. The current assessed value of $400,000 is closely aligned, suggesting stable municipal valuation in line with the recent market.

Q: Is the detached garage a standard feature for the area?
A: While not uncommon, a detached garage on a lot of this size is a valuable asset, providing flexible space for vehicles, storage, or a workshop without compromising the backyard area.

Q: The home is noted as "newer" than others on the street. What does that mean for a buyer?
A: Built in 1953, it is 12 years newer than the street average (1941). This can sometimes imply updated core systems for its era or a different architectural style, but a thorough inspection is always recommended to understand the condition of the roof, wiring, and plumbing.

Q: What is the significance of the lot size ranking so high?
A: Ranking in the top 25% for land area on Niagara Street means you are getting more outdoor space than most of your direct neighbours. This is a permanent advantage that offers more privacy, gardening potential, room for additions, or simply a larger yard for recreation.