Property Overview
This one-and-a-half storey home on a mature, standard-sized lot in Bruce Park presents a straightforward opportunity. Built in 1950, it is notably newer than many homes on its street and in the wider neighbourhood. Its living space is comfortably above average for the area, offering more room than many comparable properties. The home features a detached garage and an unrenovated basement, indicating it is likely a well-maintained but dated property awaiting modernization. Its recent sale price in May 2024 sits well above the assessed value and ranks highly compared to recent sales on the street, suggesting a strong market perception of the lot and location.
Key Characteristics & Appeal
The primary appeal of 167 Bourkevale Drive lies in its solid foundation and potential. It suits a buyer looking for a character home in a stable neighbourhood who is prepared for a project. The value is in the structure itself, the desirable lot size, and the fact that its key metrics—year built and living area—outperform local averages. This isn't a move-in-ready showhome; it's a canvas. It would perfectly suit a hands-on buyer, an investor looking for a property with "sweat equity" upside, or someone seeking to customize a home to their own tastes without paying a premium for recent renovations they might later replace. A less obvious perspective is that an unrenovated basement can be a benefit, allowing for a legal suite or tailored recreational space without the cost of undoing someone else's subpar finish work.
Frequently Asked Questions
1. Why is the recent sale price so much higher than the assessed value?
Assessed value is for municipal tax purposes and often lags behind the current market. The sale price reflects what a buyer was recently willing to pay based on market conditions, the home's potential, and the value of the lot.
2. What does "above average" for year built mean for a 1950s home?
In established neighbourhoods like Bruce Park, many homes were built in the early 20th century. A 1950 build date is relatively newer for the area, potentially meaning construction methods or home layout are slightly more modern than older neighbours.
3. Is the unrenovated basement finished or unfinished?
The listing specifies "not renovated," which typically means the basement is in original, likely unfinished condition. This should be verified by a viewing or inspection.
4. What type of renovation should I expect?
Given the age and the note on the basement, buyers should budget for general updates. This could include mechanical systems (heating, plumbing, electrical), windows, kitchen and bathrooms, and finishing the basement. A home inspection is essential.
5. How does the lot size compare?
At 4,654 sq. ft., the lot is around the average size for Bruce Park. It provides a standard urban yard space—not exceptionally large, but typical and functional for the neighbourhood.