Property Overview & Key Characteristics
This one-storey home on William Avenue West in Brooklands is a compact, no-frills property built in 1915. Its primary appeal lies in its generous, nearly 4,000 sqft lot, which is above average for the immediate street and neighbourhood. This presents a clear opportunity for expansion, gardening, or simply enjoying more outdoor space than is typical for the area. The home itself is modest, with 642 sqft of living space and a detached garage. A key feature is the renovated basement, which adds functional living area. With a recent sale price and assessed value both under $20,000, this property is fundamentally a land-value proposition in a mature neighbourhood.
It would suit a specific type of buyer: an investor looking for a hold property, a hands-on individual seeking an affordable entry into homeownership with plans to gradually improve or expand, or someone interested in the potential of the lot itself over the existing structure. It’s not a move-in-ready home for most, but a practical foundation or investment with a low barrier to entry.
Frequently Asked Questions
Q: Is this a typo? How can a house have such a low price?
A: No, it's not a typo. The price reflects the property's very modest size (642 sqft), age (1915), and the overall assessed value in the area. It represents an affordable entry point into the market, where the value is heavily weighted toward the land.
Q: What does "renovated basement" mean in this context?
A: While specific finishes aren't detailed, it indicates the basement has been updated to be functional living space. Given the small main floor area, this basement is a crucial source of additional square footage and utility.
Q: With such a small house on a large lot, what are my options?
A: The lot size is the key feature. Long-term possibilities could include a significant addition to the existing home or, subject to zoning and permitting, building a new primary residence. In the short term, it offers ample yard space.
Q: How does the assessed value compare to the sale price?
A: They are closely aligned. The property recently sold for $19,800, while its assessed value is $18,800. This suggests the market price is in line with the city's valuation, offering transparency and little risk of a tax assessment shock.
Q: The home is over 100 years old. What should I be most concerned about?
A: While the renovated basement is a plus, a professional inspection is essential. Focus should be on the foundational integrity of a century-old home, the state of major systems (plumbing, electrical, roof), and ensuring any renovations were done with proper permits.