Property Overview
This one-and-a-half storey home, built in 1949, sits on a mature lot in Central River Heights. Its key appeal lies in its location and the opportunity it presents. The lot size, while below average for the desirable neighbourhood, is still generous and offers potential for expansion or landscaping. The home itself is modest in size at 917 sqft, with an unrenovated basement and no garage, positioning it as an entry point into a sought-after area. Its most recent sale in 2022 at $340k suggests it is seen as a viable project or a home for those prioritizing location over turn-key condition.
Who It's For: This property is best suited for first-time buyers, downsizers, or investors comfortable with a home that requires updates. It appeals to those who value the established streetscape, walkability, and community of River Heights more than immediate modern finishes. It’s a practical choice for someone looking to build equity through gradual improvements rather than purchasing a fully renovated home at a premium.
Frequently Asked Questions
Is the lot size a disadvantage?
While the land is below the neighbourhood average, it is still nearly 4,800 sqft—a substantial size for an inner-city property. For many buyers, this is more than adequate for a garden, patio, and private space, and it remains larger than many typical city lots.
What does "unrenovated basement" typically imply?
This usually indicates the basement is in its original, functional state. Expect a concrete floor, basic finishes, and older mechanical systems (like the furnace or wiring). It offers usable space for storage or laundry but will require investment to become a finished living area.
How does the 2022 sale price inform the current value?
The $340k sale two years ago, significantly higher than the 2017 sale, reflects the strong demand for River Heights. It sets a recent benchmark, suggesting the market values the location highly even for a home requiring work. Current value would be influenced by market trends and any changes made since.
With no garage, what are parking options?
The property likely relies on street parking, which is common in older parts of River Heights. Buyers should check specific city regulations for permit requirements and observe daily parking patterns to assess convenience.
Why consider a smaller home in this area?
A smaller footprint means lower utility costs and less maintenance, allowing you to invest in the neighbourhood's amenities instead. For the right buyer, it’s a trade-off: you accept a cozier living space to gain access to a prime location with character, mature trees, and community feel.