Property Overview

This 1922 one-and-a-half storey home on a generous 5,142 sqft lot in Crescentwood offers a blend of established character and practical updates. Its key appeal lies in its above-average land size for the immediate street, providing a rare sense of space in a mature, sought-after neighbourhood. The home itself, with 1,467 sqft of living space, is modestly sized compared to some area homes, suggesting a manageable footprint. A renovated basement and a detached garage add functional value. The property’s assessed value ranks highly for the street and city, indicating strong underlying value, though the modest sale price from 2020 suggests significant potential for equity growth or a value-conscious entry point into the area.

This home would suit a buyer looking for a character property without the largest house to maintain, who values a sizable, private lot more than expansive square footage. It’s ideal for someone comfortable with the upkeep of a century-old home but appreciative of having some renovations already addressed. It could be a strategic purchase for a young family seeking neighbourhood amenities and good schools, or an investor/renovator attracted by the lot value and established location.

Frequently Asked Questions

1. Is the lot size a major advantage?
Yes. The lot is in the top 19% for size on Mcmillan Avenue, offering more outdoor space than many neighbouring properties. This is a premium feature in mature neighbourhoods where land is fixed.

2. How does the home’s size compare to the area?
The living area is below the neighbourhood average but close to the citywide average. This indicates the home is more compact than some larger Crescentwood houses, which could mean lower utility costs and less maintenance, but may require efficient use of space.

3. What does the assessed value ranking tell us?
Ranking in the top 11% on the street and top 15% citywide for assessed value suggests the property is officially valued highly relative to many peers. This often reflects the desirable lot and location, and can be a positive indicator for long-term value, though property taxes will be based on this assessment.

4. The home was sold in 2020. What should I consider?
The 2020 sale price is a historical data point. The market has likely shifted since then, and the current assessed value is significantly higher. This gap highlights the importance of a current market evaluation to understand today’s fair market value.

5. Who might this property not suit?
Buyers seeking a move-in-ready, modern open-concept layout or very large interior spaces may find the traditional 1922 layout and modest square footage limiting. It’s best for those who see charm in older homes and value lot potential over sheer interior size.