Property Overview & Appeal
This well-situated one-storey home in Archwood presents a compelling opportunity, particularly for specific buyers. Its key characteristic is a renovated basement, adding valuable finished space to the modest 684 sqft main floor footprint. The detached garage and a land area that ranks in the top 18% for its street are further tangible assets. The home’s appeal lies in its efficient scale and recent updates, offering a move-in-ready foundation in a mature neighbourhood. The recent sale history shows steady appreciation, suggesting a stable investment.
This property would best suit first-time buyers seeking an affordable entry into the market without a major renovation project, or downsizers looking for a manageable, single-level layout with a modernized lower level for family visits or hobbies. A thoughtful perspective is that while the living area is compact, the renovated basement effectively doubles the usable space, making the home feel larger than the main floor square footage suggests. Its strong land ranking also indicates future potential for expansion or landscaping, unlike properties on smaller lots.
Frequently Asked Questions
1. Is the house too small?
While the main floor living area is compact, the renovated basement provides significant additional finished space, creating a more functional total living environment than the initial square footage implies.
2. How does the age of the home affect maintenance?
Built in 1948, some major systems may be due for updates. A thorough inspection is recommended, though the renovated basement suggests recent investment in the property.
3. What is the neighbourhood like?
Archwood is a mature, established neighbourhood. The property’s land size ranks in the top 39% for the area, indicating it is on one of the larger, potentially more desirable lots within the community.
4. Why did it sell for more than its assessed value recently?
The sale price in July 2024 exceeded the assessed value, which is common. Assessments are for taxation purposes and often lag behind market value, especially for updated homes in a strong market.
5. Is the detached garage a standard size?
The listing confirms a detached garage, but the exact dimensions are not provided. This should be verified, as garage sizes in older neighbourhoods can vary.