Property Overview

This one-and-a-half storey home, built in 1944, sits on a generous 5,313 sqft lot in the established Crescentwood neighbourhood. Its key appeal lies in the combination of a prime location, a sizable and valuable lot, and a recently renovated basement. The home itself, at 1,358 sqft of living space, is more modest in size compared to some neighbours, presenting an opportunity for those valuing land and location over square footage. It features a detached garage.

The property’s data reveals a compelling narrative: while the house is smaller than many in the immediate area, its lot size is well above average for the street, and its assessed value ranks highly. This suggests the underlying land value is a significant driver. It recently sold in July 2024 for $472,000, continuing an upward trend from its previous sale in 2021.

This home would best suit a buyer who prizes the character and prestige of Crescentwood and sees potential in the property itself. It’s a fit for someone comfortable with a home of efficient size, possibly a downsizer, a first-time buyer entering a desirable area, or an investor/renovator who recognizes the value in the lot and the already-completed basement update.

Frequently Asked Questions

Is the house too small for the neighbourhood?
While the living area is below the current average for Crescentwood, the lot size and assessed value are strong. This indicates the property is valued for its location and land potential, not just its interior space. For the right buyer, this represents an entry point into a sought-after area.

What does the high assessed value relative to sale price indicate?
The assessed value ($524,000) is notably higher than the recent sale price ($472,000). Assessments are for municipal tax purposes and consider many factors, including lot value. The sale price reflects the final market agreement. This difference may point to the significant value placed on the land by the city, or simply market conditions at the time of sale.

How does the renovated basement factor in?
A renovated basement adds immediate functional living space without increasing the home’s official footprint. This is a key practical advantage, providing room for a family room, home office, or additional bedrooms, effectively making the home feel larger than the listed living area.

Is the older year of build a concern?
Built in 1944, the home is actually newer than many on its street and in Crescentwood, ranking in the top 15-24% locally for its year. While it will still require attention common to homes of its era, it is not among the oldest in the area.

Who would this property not suit?
Buyers seeking a large, move-in-ready home with extensive modern square footage on the main floors may find it limiting. Its appeal is more grounded in location, lot value, and the opportunity it presents rather than in expansive, updated living areas.