Property Overview: 804 Buchanan Boulevard
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1950, presents a compelling opportunity centered on its generous 9,075 sqft lot, which places it in the top 1% for land size on its street. While the 1,234 sqft living area is comfortably above average for the immediate area, the property's true standout feature is its expansive outdoor space, offering rare potential in a mature neighbourhood. The home includes a renovated basement and a detached garage.
Its appeal lies in a clear value proposition: you are acquiring a significant parcel of land with a solid, functional home. The recent sale in July 2024 at $330,000 suggests strong current market interest. This property would suit a buyer who prioritizes yard space for gardening, recreation, or future expansion over a modern, turn-key home. It's ideal for those with a vision to update the residence over time or who simply value the privacy and possibilities that a large lot in a settled area provides. A thoughtful perspective is that while the house itself is older, this can represent a "blank canvas" opportunity without the premium price of a recent renovation, allowing the buyer to tailor updates to their own taste and budget.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is exceptionally large for the street, ranking in the top 1% on Buchanan Boulevard. At over 9,000 sqft, it is significantly larger than the average lot for comparable homes in the immediate area (approx. 5,686 sqft).
2. What is the significance of the home's age?
Built in 1950, the home is older than most on its street and in the wider neighbourhood. Buyers should factor in the potential for age-related maintenance or updates, but this also contributes to the character and established feel of the property.
3. Has the property value increased?
Yes. The home sold for $29,100 in August 2020 and most recently for $330,000 in July 2024. This represents a substantial increase, aligning with broader market trends over that period.
4. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but the specific scope, quality, and permits for this work are not detailed. This is a key point for buyers to investigate further during viewings and through their due diligence.
5. Who would this property not suit?
This home may not be the best fit for buyers seeking a modern, low-maintenance property or who do not intend to utilize a large yard. The older home and expansive lot may require more upkeep or creative vision compared to a newer build on a standard lot.