513 Montague Avenue

Property Overview

This one-storey home on a generous 6,006 sqft lot in Riverview presents a practical and comfortable living proposition. Its key appeal lies in a balance of established neighbourhood character, usable space, and recent updates. The home itself is 1,015 sqft, built in 1953, and features a renovated basement and a detached garage. The lot size is a significant asset, ranking in the top quarter of the street, offering ample outdoor space for gardening, play, or expansion relative to many city lots.

The property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature neighbourhood, with the heavy lifting of a basement renovation already completed. Its assessed value of $410k aligns with the local market, and the sales history shows a steady increase from its last sale in 2017. A thoughtful perspective is that while the living area is modest, the large lot and updated basement effectively expand the usable space, offering potential for both daily living and future value. It’s a home that prioritizes land and foundational readiness over sheer square footage.

Frequently Asked Questions

What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on finish quality, ceiling height, permits, and whether it includes a legal suite or additional bedrooms are not provided. This would be a key point for further inquiry with the seller or agent.

How does the 1953 build year affect the home?
While the home is well-maintained, buyers should be prepared for potential age-related updates. The roof, windows, and major systems (plumbing, electrical, heating) may need evaluation to understand their remaining lifespan and any imminent capital costs.

The lot is large, but what is it like?
The 6,006 sqft lot is a standout feature. Buyers should consider its orientation (sun exposure), topography (slope, drainage), and current landscaping to gauge maintenance requirements or potential for additions, a garden, or other outdoor uses.

How does the assessed value relate to the likely selling price?
The $410k assessed value is for municipal tax purposes and is a historical snapshot. The current market price will be influenced by recent comparable sales, condition, and demand. The last sale was in 2017 for $336k, indicating a history of value growth.

What is the neighbourhood feel like?
Riverview is a mature, established area. The property ranks in the top half of the neighbourhood for lot size but in the lower third for living area, suggesting it's among the more spacious lots but with homes of varying sizes. It offers a quiet, residential feel close to the river.