Property Overview: 448 Melrose Avenue W

Key Characteristics & Appeal

This home stands out in its established Melrose neighbourhood for its modern foundation in a setting of older properties. Built in 2015, it is notably newer than most homes on its street and in the wider area, suggesting modern construction standards, systems, and likely less immediate maintenance. With 1,092 sqft of living space, it offers more room than many comparable local homes, while its lot size of over 5,400 sqft is generously above average for the area, providing valuable outdoor space and potential.

The appeal lies in this combination of a contemporary, low-maintenance home on a substantial lot within a mature neighbourhood. Its assessed value ranks in the top 1% locally, reflecting its premium position in the immediate market. The price history shows steady appreciation, with a sale in the $400k-$450k range in 2022, significantly above its earlier 2017 sale.

This property would suit buyers looking for a move-in-ready, newer build who value the character and stability of an older neighbourhood without the typical upkeep of an older house. It’s ideal for someone who prioritizes private outdoor space and modern interiors, yet wants to be part of a long-established community. A thoughtful perspective is that this home offers a unique hedge against the collective maintenance cycle that often hits older neighbourhoods, providing newer infrastructure while its larger lot offers a rarity that cannot be replicated.

Frequently Asked Questions

1. Why is the assessed value so high compared to nearby homes?
The assessed value ranks in the top 1% for the street and area because it is a much newer (2015) and likely larger home than the neighbourhood average, which consists primarily of homes built in the mid-20th century. This modern build and its above-average living area command a premium.

2. What does the sale history indicate about the property's value?
The home sold in the $250k-$300k range in 2017 and then in the $400k-$450k range in 2022. This indicates significant appreciation over that five-year period, aligning with its modern build in a desirable location.

3. Is the living space considered large?
At 1,092 sqft, it is above average for both Melrose Avenue and the broader Melrose area, where comparable homes average about 980 sqft. It is, however, slightly below the city-wide average for homes, making it a comfortably sized home for its neighbourhood context.

4. How does the lot size compare?
The lot is 5,443 sqft, which is larger than most on the street and in the area. This is a key feature, offering more yard space than is typical for the locality, though it is closer to the average when compared city-wide.

5. How can I find out the exact past sold prices?
The exact sold prices are not publicly displayed in detail. The listing service offers to provide the accurate figures manually via email upon request, with a same-day response aim, at no cost and without using your email for marketing.