Property Overview
This 1957-built, one-storey home at 712 Buchanan Boulevard sits on a generous 6,050 sqft lot, which is notably larger than most in its immediate area. The home itself, at 952 sqft of living space, is compact, but it features a renovated basement. A detached garage completes the property. Its appeal lies in the combination of a sizable, established lot in a mature neighbourhood and the value-added potential of the basement renovation. This property would suit a first-time buyer, an investor, or someone looking for a manageable footprint with room to potentially expand or enjoy outdoor space. It’s a practical choice for those who prioritize land size over a large existing house and are comfortable with a home from the 1950s.
Key Considerations & FAQs
1. How does the lot size compare, and why does it matter?
The lot is in the top 22% for size on Buchanan Boulevard, meaning it's significantly larger than many neighbouring properties. This offers more privacy, yard space, and potential for additions, gardens, or outdoor living areas compared to typical lots in the area.
2. The home was built in 1957. What should I consider?
While the systems and structure are mature, the renovated basement is a positive update. A thorough inspection is advisable to understand the condition of the original roof, wiring, plumbing, and foundation, which are common focal points for homes of this era.
3. The living area is below average. Is the layout efficient?
At 952 sqft, the main floor living space is compact. The value here is in the total usable area, which includes the renovated basement. Buyers should assess if the main-floor layout suits their daily needs and view the basement as a crucial extension of the living space.
4. Why is there a notable difference between the last sale price and the assessed value?
The home sold for $25.3k in 2016 and now has an assessed value of $28.5k. This reflects modest value growth and may indicate a stable, non-speculative market in this area. It’s important to note that assessed value is for taxation and a current market valuation will differ.
5. Who would this property not suit?
It may not be the best fit for those seeking a modern, move-in-ready home with ample above-ground square footage, or for buyers who prefer a newer neighbourhood with homes of more recent construction. The charm and potential here are balanced with the realities of an older property.