Property Overview & Appeal
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity centered on its location and land. With a modest 670 sqft of living space and an unrenovated basement, its appeal is not in its size or condition, but in its position as an entry point into the Burrows Central neighborhood. The lot, at 1,866 sqft, is notably smaller than most in the city, which suggests a lower-maintenance yard and a proportionally lower property tax burden, as reflected in the assessed value. This is a property for the practical buyer: an investor looking for a rental foothold, a hands-on renovator seeking a project with a manageable footprint, or a first-time buyer prioritizing affordability and location over move-in-ready finishes. Its value lies in what it represents—a chance to build equity in a well-established area without a premium price tag.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value of $14,400 is significantly below averages for the street, neighborhood, and city. This typically indicates lower municipal property taxes, which is a key affordability factor. It reflects the home's smaller size, age, and likely the need for updates.
2. How should I interpret the "below average" rankings for land and living area?
While the lot and home are smaller than most, this isn't inherently negative. It translates to less exterior maintenance and potentially lower utility costs. For the right buyer, this efficiency is a feature, not a flaw, making it a more manageable property.
3. Who is this home most suitable for?
It best suits an investor, a handy first-time buyer planning gradual renovations, or someone looking to minimize their ongoing property costs. It is less suitable for those needing ample space or a turn-key home without immediate renovation plans.
4. What is the significance of the unrenovated basement?
This means the basement space is functional but in its original or outdated state. It offers potential for future development (subject to permits and codes) but will require investment. Buyers should budget for any necessary moisture control, insulation, or updating.
5. The home is over a century old. What should I be most concerned about?
Prospective buyers must prioritize a thorough inspection focusing on foundational integrity, roof condition, wiring, plumbing, and insulation. Homes of this age can have great character but often require significant updates to mechanical systems and envelope sealing for modern comfort and efficiency.