194 Old Mill Road

Property Overview

This well-situated one-storey home on a generous lot in Birchwood offers a blend of space, location, and value. Its key appeal lies in its substantial 6,378 sqft lot, which ranks in the top 3% for size on Old Mill Road, providing rare potential for expansion, gardening, or outdoor living within the city. The living space is a comfortable 1,240 sqft, and the home features a renovated basement and an attached garage. Built in 1959, it presents a solid opportunity for buyers seeking a established home in a mature neighbourhood.

The property is ideally suited for first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space. Its strong lot size and recent basement renovation also make it a practical canvas for those who may wish to update the main living areas over time. A less obvious advantage is its assessed value ranking; while the home itself is modest, the land value is significant, suggesting the property's worth is heavily tied to its desirable location and parcel size. This points to a stable long-term investment where the land itself is a primary asset.

Frequently Asked Questions

1. What does the "renovated basement" typically include?
While specifics should be verified with the listing agent, a renovated basement in a home of this era often means updated finishes, such as drywall, flooring, and lighting, potentially creating a functional recreational room, office, or additional living space.

2. How does the sold price from 2021 relate to today's value?
The 2021 sale price of $36.5k provides a historical benchmark, but market conditions have shifted. The current assessed value of $31.9k is an official valuation for tax purposes, but the final market price will be determined by current demand, the home's condition, and recent comparable sales.

3. The lot is large, but is it usable?
The 6,378 sqft lot is significantly above average. Its usability depends on its shape and any easements. This size offers excellent potential, but a survey or site visit is recommended to understand possibilities for additions, sheds, or landscaping.

4. What are the implications of the "Top 0%" assessed value rank on its street?
This statistic means this property has the highest assessed value on Old Mill Road. This generally reflects a combination of its large lot and the renovated condition compared to neighbours, but it also means the property tax burden will be proportionally higher than others on the street.

5. Who handles the lawn maintenance and snow clearing for the property?
As a detached, single-family home, all maintenance of the lot, including lawn care and snow removal from the driveway and walks, is the responsibility of the homeowner.