224 Laxdal Road

Property Overview & Key Characteristics

This is a classic two-storey home in the established Varsity View neighbourhood, built in 1978. With 1,104 sqft of living space on a nearly 3,000 sqft lot, it presents a practical footprint. Its key appeal lies in its location within a mature, sought-after community, offering a balance of space and manageability. The home features a finished basement, adding valuable functional space.

The property’s standout characteristic is its relative newness for the area; it is newer than over 90% of homes on its street, which is a notable advantage in an older neighbourhood. However, its assessed value ranks in the lower tiers for the immediate area, suggesting it may be a more affordable entry point into Varsity View or a property with untapped potential. It would suit first-time buyers seeking a foothold in a prime neighbourhood, downsizers looking for a manageable home without leaving the area, or value-oriented investors attracted by the location and the finished basement for rental potential.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this home to others in specific geographic areas. For example, being newer than 91% of houses on its street is a strong positive, while its assessed value ranking lower than most neighbours could indicate a buying opportunity or a need for updates.

2. Is the finished basement a legal suite?
The listing states the basement is finished but does not specify it as a legal rental suite. A buyer should verify its compliance with local codes and zoning if considering rental income.

3. There’s no garage. What are the parking options?
The property has no garage, which is common for older homes in the area. Buyers should confirm the availability of on-site driveway parking, any permits for street parking, and observe typical neighbourhood patterns.

4. How might the age of the home (48 years) affect a purchase?
While newer than many on its street, a home of this age will likely have original or aging core components, like the roof, windows, and major systems. Budgeting for maintenance or updates is a prudent consideration.

5. The lot is a good size, but how is the outdoor space configured?
The land area is a solid 2,996 sqft. Buyers should view the property or use street view tools to understand the layout—whether it’s deep or wide, its privacy, and how usable the yard is for their needs.