Property Overview: 544 Borebank Street, Central River Heights
Section 1: Key Characteristics & Appeal
This one-storey home on a 6,000 sqft lot presents a solid opportunity in the sought-after Central River Heights neighbourhood. 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 and potential for future expansion. The detached garage adds practical storage or workshop space.
The home suits two main types of buyers. First, it’s ideal for a first-time buyer or downsizer seeking a manageable single-level layout in a prime, established neighbourhood without the premium price of a larger or fully modernized home. Second, it appeals to a value-conscious investor or renovator who sees the underlying asset: the lot size is a standout feature, offering room for gardens, additions, or future redevelopment in a consistently desirable location. A thoughtful perspective is that while the living area is modest, the renovated basement effectively doubles the usable space, making the home feel larger than the main floor square footage suggests. Its assessed value is consistent with the area, indicating a fair market entry point rather than a undervalued project, positioning it as a stable, long-term holding in a mature community.
Section 2: Frequently Asked Questions
1. How does the lot size compare to others in River Heights?
The 6,000 sqft lot is notably larger than many in the immediate area, ranking in the top 17% on its street and the top 22% within Central River Heights. This is one of the property's defining characteristics.
2. What is the condition of the basement renovation?
The listing confirms the basement is renovated, but the scope, quality, and permits for this work should be verified through a viewing and inspection. It represents a key functional upgrade to the home.
3. Is this a good option for someone wanting a move-in ready home?
With its renovated basement and single-level layout, it offers move-in readiness for those comfortable with a home built in 1953. A buyer should be prepared for the maintenance and potential updates typical of a house of this age, particularly on the main floor.
4. Why was the last sale price in 2017 significantly lower than the current assessed value?
The 2017 sale price of $362,000 reflects the market conditions and the property's state at that time. The current $430,000 assessment aligns with broader market increases and the value added by the basement renovation over the past seven years.
5. What is the potential for adding on to the house?
The large lot provides a clear advantage for potential additions, a sunroom, or a garage expansion. Any plans would need to comply with local zoning bylaws regarding setbacks and lot coverage, but the space to build is a definite asset.