Property Overview

This is a compact, one-storey home on a generous 5,088 sqft lot in the established Crescentwood neighbourhood. Built in 1946, its primary appeal lies in its location on Corydon Avenue and its renovated basement, offering potential for additional living space or rental income. The living area is modest at 768 sqft, making the property more of a blank canvas or a land-value proposition rather than a move-in-ready family home. Its assessed value is notably below the neighbourhood average, suggesting it may be priced for its potential or land size rather than its current structure.

This property would suit a specific type of buyer: a downsizer seeking a low-maintenance footprint in a prime location, an investor looking for a lot with existing rental potential via the basement, or a builder/renovator who sees value in the sizable lot for a future expansion or rebuild. It's less suited for those needing ample above-ground living space immediately.

Key Questions & Considerations

1. What does "renovated basement" specifically include?
Given the modest main floor size, the condition and layout of the basement are crucial. It's important to clarify if it's a legal suite, a finished recreational space, or simply updated utilities, as this significantly impacts the home's utility and value.

2. How does the traffic on Corydon Avenue affect livability?
While the address offers excellent walkability to shops and amenities, prospective buyers should experience the noise and activity level firsthand, especially for a home set close to the street, to ensure it aligns with their comfort.

3. Given the below-average assessed value for Crescentwood, what are the likely reasons?
This typically reflects the home's smaller size and older condition relative to larger, more updated homes in the area. It's a signal that you are paying primarily for location and land, with the house itself likely needing updates.

4. What is the potential for expansion or redevelopment on this lot?
With a lot size well above the city average, there may be potential to expand the existing bungalow or eventually rebuild. Checking the City's zoning bylaws for allowable builds, including height and footprint restrictions, is an essential next step.

5. Why have past sale prices been consistently below assessed value?
The recent sale history shows transactions below the current assessment. This can indicate a market that values the property as a land play or suggests the assessment is based on different parameters. It's a point for discussion with a real estate professional to understand current market valuation.