Property Overview

This 1,260 sqft one-and-a-half storey home, built in 1918, sits on a 4,158 sqft lot in Deer Lodge. It features a detached garage and a basement that has not been renovated. The home last sold in February 2016.

Key Characteristics & Appeal

The primary appeal of 449 Albany Street lies in its value proposition and established neighborhood setting. Its living space is notably above average for Albany Street itself, offering more room than most direct neighbors. The lot size is also generous for the immediate area. However, the home’s assessed value is significantly below average across all comparison levels—street, neighborhood, and city-wide. This combination suggests a property that may be undervalued or in need of updates, presenting a clear opportunity for equity growth.

It would suit a value-conscious buyer, such as a handy homeowner or investor looking for a footprint in a stable neighborhood. The lower assessment can mean lower property taxes, an ongoing financial benefit. The unrenovated basement and older structure point to a project home, ideal for someone wanting to customize spaces to their own taste over time, rather than paying a premium for recently completed work. It’s a practical choice for those who see potential beyond surface finishes and are comfortable with a home that offers solid fundamentals from a bygone era.

Frequently Asked Questions

1. What does the below-average assessed value indicate?
It typically reflects the home’s age, condition, and recent sale price from 2016. It often signals an opportunity for value increase through updates, but buyers should have an inspection to understand the full scope of any needed work.

2. Is the living space layout modern?
As a one-and-a-half storey built in 1918, the layout will likely reflect older design patterns, with potentially smaller, defined rooms rather than an open-concept floor plan. The half-storey often means cozy, character-filled bedrooms on the upper level.

3. What are the implications of an unrenovated basement?
This means the basement is in original or functional condition, not updated for modern living. It offers a blank canvas for finishing but requires a thorough check for moisture, foundation integrity, and updates to electrical or plumbing systems.

4. How does this home compare to others on the street?
It offers more living space than most homes on Albany Street but has a lower assessed value. This unique position means you get more square footage for the dollar here compared to neighbors, though the property may need more investment.

5. What is the realistic potential for this property?
The potential is for gradual value creation. The lot size and living area are strong foundations. Strategic updates to the main living areas and basement, while preserving the home’s character, could bring its value more in line with neighborhood averages over time.