532 Borebank Street

Property Overview

This 1954 one-storey home on a 6,000 sqft lot in Central River Heights presents a solid, grounded opportunity. Its primary appeal lies in the combination of a generous, above-average lot size for the area and a recently renovated basement, offering immediate livable space. The detached garage adds practical utility. While the 1,179 sqft living area is average for the neighbourhood, the property’s value is anchored in its land and the potential that comes with it. It suits a practical buyer looking for a well-located home with a manageable footprint, or a long-term investor who values the underlying land value in a desirable, established community. A thoughtful perspective is that, for its assessed value, you are acquiring a lot that is larger than most on the street and in the area, which is a finite commodity. The home itself isn't oversized, suggesting efficiency over extravagance.

Frequently Asked Questions

1. How does the lot size compare to others?
The 6,000 sqft lot is a key feature, placing the property in the top 17% on Borebank Street and the top 22% within Central River Heights. It offers more outdoor space than the average local home.

2. What condition is the basement in?
The listing specifies the basement has been renovated. Prospective buyers should inquire about the scope, permits, and finish quality of this renovation during viewings.

3. Is the assessed value in line with recent sales?
The current assessed value is $420k. The last recorded sale was in 2019 for $333k. This gap highlights the importance of a current market evaluation to understand today's fair market price.

4. What is the neighbourhood like for families?
Central River Heights is a mature, established neighbourhood known for its tree-lined streets, community amenities, and proximity to schools, parks, and the river. It typically appeals to families and professionals.

5. What might future maintenance involve?
Built in 1954, the home is older than many on its street. Buyers should pay special attention to the condition of major aging components, such as the roof, plumbing, electrical systems, and the detached garage structure during an inspection.