Property Overview

This bi-level home at 677 Silverstone Avenue in Fort Richmond presents a compelling mix of modern build and established neighbourhood character. Its key appeal lies in being a relatively new construction (built in 2014) within a mature area, offering a balance of contemporary living without the premium of a brand-new subdivision. With 1,193 sqft of living space and a 6,471 sqft lot, the home sits comfortably around the average for its immediate street and area, but its assessed value ranks notably above average, suggesting favourable finishes, condition, or desirability factors.

The home features a detached garage and an unrenovated basement, presenting a clean canvas for future customization. Its standout characteristic is its age: it ranks in the top 4% of homes on its street and the top 1% in Fort Richmond for being newer, meaning major components like the roof, windows, and mechanical systems likely have considerable life left, a significant value point often overlooked. This property would suit first-time buyers or downsizers seeking a low-maintenance, move-in-ready home without the unpredictability of an older property, as well as pragmatic buyers who value modern infrastructure but prefer the settled greenery and community feel of an established neighbourhood like Fort Richmond.

Frequently Asked Questions

1. How does the assessed value compare to the last sold price?
The home sold in July 2021 for an estimated range of $485,000 to $515,000. Its current assessed value is $448,000. It's important to consult a local real estate professional to understand current market conditions and how both figures might relate to today's listing price.

2. What does "basement, not renovated" imply?
The basement is finished but has not been updated. This is typically a positive, as it means the space is usable and insulated, but it allows the new owner to customize it to their taste and budget over time, without the immediate need to undo a recent but potentially dated renovation.

3. The living area is slightly below the neighbourhood average. Is that a concern?
At 1,193 sqft, it is modest but efficient for a bi-level. The trade-off is a newer home with potentially lower upkeep costs. For many buyers, the peace of mind from a newer build outweighs a marginal difference in square footage compared to much older, larger homes in the area.

4. Why is the assessed value ranked so much higher than the living area?
This discrepancy often highlights factors beyond raw square footage. The high ranking for assessed value likely reflects the home's newer age (2014), which positively influences valuation due to modern building codes, materials, and systems, along with its desirable lot size and specific location on the street.

5. What are the advantages of a detached garage?
A detached garage offers flexibility. It can reduce noise and fumes from entering the main house, provides clear separation for a workshop or hobby space, and may allow for easier future expansion or landscaping projects between the garage and the home.