Property Overview & Appeal

This 1,053 sqft bungalow on a 4,226 sqft lot in Munroe East presents a distinct value profile. Built in 1960, it is notably newer than most homes on its own street. Its key appeal lies in its efficient use of space—the living area is above average for both the immediate street and the broader neighbourhood—paired with a very low municipal assessed value. This combination suggests a property that may offer more modern infrastructure than nearby peers while carrying lower property tax obligations.

The home would suit practical, value-conscious buyers such as first-time homeowners looking for manageable space, or investors seeking a rental property with a favorable tax basis. Its below-average lot size means less yard maintenance, which could be a plus for those wanting a simpler footprint. The recent sale history indicates steady market interest, making it a straightforward option in a stable neighbourhood.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Municipal assessments are for taxation purposes and are not market valuations. This home's assessed value is low relative to the entire city, and even below average for its street and area. This typically results in lower annual property taxes, which is a financial advantage for the owner.

2. How does the lot size impact potential for expansion or renovation?
At 4,226 sqft, the lot is smaller than most on Besant Street. This may limit possibilities for large additions or detached structures like a garage or workshop, but could be sufficient for a modest extension or a deck. Checking local zoning bylaws for setback requirements would be an essential first step.

3. The home sold recently in 2024 and 2017. What does that indicate?
The relatively quick resale in 2024 could reflect a number of standard scenarios, such as an investor flipping the property, an owner relocating, or a change in personal circumstances. It shows consistent market activity but doesn't inherently signal a problem with the property itself.

4. Is a 1960-built home likely to have major system issues?
Homes from this era often have foundational systems (like plumbing and electrical) that may be nearing or past their typical lifespan. While the build year is newer than many on the street, a thorough inspection is crucial to evaluate the condition of the roof, wiring, plumbing, and heating systems.

5. What are the benefits of it being a "newer" home on the street?
Being newer than most neighbouring homes can be an advantage. It often means construction methods and materials were more modern at the time of build, potentially leading to better energy efficiency, floor plan layouts, and less wear on core structures compared to older houses nearby.