Property Overview & Key Characteristics
This one-storey home on a 6,000 sqft lot in Central River Heights presents a specific and compelling opportunity. Its primary appeal lies in the land itself—the lot size is well above average for both Lindsay Street and the broader neighbourhood, offering valuable outdoor space and potential in a mature, established area. The home, built in 1955 with a modest 900 sqft living area and a renovated basement, is suited for a buyer comfortable with a smaller footprint. A detached garage adds practical storage.
This property would best suit a value-conscious buyer, such as a downsizer, a first-time homeowner, or an investor, who prioritizes location and lot size over interior square footage. It’s a home where the value is grounded in the land and the neighbourhood’s character, not in a large or modernized living space. The below-average assessed value and recent sale price suggest it may be an accessible entry point into a desirable area, with the understanding that the interior may require personal updates or is ideal for a simpler lifestyle.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. The 6,000 sqft lot ranks in the top 25% on its street and top 22% in Central River Heights. This is a standout feature, offering more private outdoor space than most neighbouring properties, which is rare in mature neighbourhoods.
2. The living area is noted as below average. How small is it?
At 900 sqft, the main-floor living space is compact. It ranks in the bottom 15% of homes in the neighbourhood. This indicates a cozy, efficient layout, which is complemented by the additional finished space in the renovated basement.
3. What does the assessed value tell me?
The assessed value of $37.3k is below the average for both the street and neighbourhood. This typically reflects the home’s smaller size and older age rather than its condition. It’s important to note that assessed value for tax purposes is different from current market value.
4. The home sold for $28.6k in 2018. What does that mean for today's price?
That sale price was significantly below average at the time. It serves as a historical data point but is not a direct indicator of current value, which will be influenced by recent market conditions, the renovated basement, and the desirable lot size.
5. Who would this property not suit?
It may not be ideal for buyers seeking a large, modern, turn-key home with ample interior space on the main floor. Families needing multiple large bedrooms or those unwilling to consider future updates might find the layout and size limiting compared to newer builds.