Property Overview

This two-and-a-half storey home on Alverstone Street, built in 1909, presents a classic character property with distinct advantages and considerations. Its primary appeal lies in its generous 2,000 sqft of living space, which ranks within the top 5% of homes on its street and top 3% within the Daniel McIntyre neighbourhood. This places it as a notably spacious option in an inner-city area. The home features a basement, but it is noted as not being renovated, and the property does not include a garage or pool.

The home suits buyers looking for a project-in-waiting with solid bones. Its assessed value is above average for both the street and neighbourhood, suggesting official recognition of its lot and structure, yet it sits below the citywide average, indicating potential value within its context. The lot size is compact, even for the area, which points to a low-maintenance yard but limited outdoor space. Ideal buyers are likely those seeking ample interior room for a growing household or a live-work setup, who are prepared to update a historic home and value an urban location over a large private yard. It’s a practical choice for someone prioritizing interior square footage and neighbourhood connectivity over modern finishes and expansive grounds.

Frequently Asked Questions

1. What does the "above average" assessed value for the neighbourhood actually mean?
It means the city’s assessment of this property’s value is higher than most homes in Daniel McIntyre. This often reflects factors like its larger living area, but it doesn't directly predict market sale price. It can indicate the property is considered a substantial asset within the local context.

2. The home is noted as having a basement, but it's "not renovated." What should I expect?
You should anticipate a functional but dated space typical of a century-old home. It likely has utility and storage potential but may require addressing foundational upkeep, moisture control, or updating electrical and plumbing systems before finishing it as living space.

3. The living area is in the top percentile, but the lot size is in the bottom. What's the trade-off?
You are trading private outdoor space for interior volume. This is common for older urban homes. The layout likely stretches vertically and makes efficient use of a smaller footprint, offering more rooms but a smaller yard.

4. How significant is the 1909 build date?
Very significant. It means the home has pre-World War I character and construction methods. While this offers charm, it necessitates a thorough inspection for knob-and-tube wiring, original plumbing, insulation, and the overall condition of the foundation and structure. Its age is greater than most on the street.

5. The home sold for $290k in April 2022. How useful is that price today?
It serves as a recent benchmark, showing the price point at which it last transacted. However, market conditions have likely shifted since then. Use it as a reference point for discussion, but not as a definitive current value without considering comparable sales from the past few months.