494 Mcleod Avenue

Property Overview & Appeal

This well-situated one-storey home on a large, mature lot in Rossmere-A offers a blend of space, established character, and modern updates. Its key appeal lies in its generous 11,657 sqft lot, which ranks in the top 1% of the neighbourhood for size, providing exceptional outdoor potential and a rare sense of privacy for the area. The home itself features a renovated basement and a practical detached garage. With 1,121 sqft of living space, it is comfortably sized and ranks above average for the street.

The property suits buyers looking for a solid, move-in-ready foundation in a stable neighbourhood, with the land size being a major asset for gardening, recreation, or future expansion. It’s particularly appealing to those who value established communities over newer subdivisions, and who see the value in a large, private yard that is increasingly hard to find. The renovated basement adds flexible living space, making it a fit for small families, downsizers seeking single-level living with room for hobbies, or investors looking at a property with strong intrinsic value due to its lot.

Frequently Asked Questions

1. What is the true value of such a large lot?
Beyond privacy and space, a lot of this size (nearly a quarter-acre) in an established neighbourhood is a long-term asset. It allows for significant landscaping, the potential for additions like a workshop or studio (subject to bylaws), and typically holds its value independently of the home itself.

2. How does the age of the home (built 1958) affect things?
While the home is older, the renovated basement indicates updates have been made. Buyers should focus on the condition of major age-related components not mentioned, such as the roof, plumbing, electrical systems, and the foundation, which would be a priority for a professional inspection.

3. The assessed value is $370k; is that the selling price?
No. The municipal assessed value is for tax purposes and is a historical estimate. The market price is determined by current conditions, the home's specific features, and buyer demand. The list of nearby "similar assessed value" properties provides a useful benchmark for comparison.

4. What is the neighbourhood like?
Rossmere-A is a mature, established area. The high ranking of this property's lot size within the neighbourhood suggests it is one of the larger properties in the area, which often indicates a quieter, more spacious setting compared to parts of the same community with smaller lots.

5. Who might this property not suit?
It may not suit buyers seeking a brand-new, low-maintenance home, as an older property can come with unexpected upkeep. Those wanting an attached garage or a very large interior living space might also find other homes in the comparison list more aligned with those priorities.