Property Overview: 653 Oxford Street, Central River Heights
Key Characteristics & Appeal
This 1955 one-storey home in Central River Heights sits on a generous, approximately 6,000 sqft lot, offering more outdoor space than many comparable properties in both the immediate area and city-wide. Its key updated feature is a renovated basement, adding valuable finished living space to the home's 1,072 sqft main floor. The property includes a detached garage.
The primary appeal lies in its land value and location within a sought-after neighbourhood. The lot size is a significant asset, ranking well above the neighbourhood and city averages, presenting opportunities for gardening, expansion, or simply enjoying more private outdoor space. While the living area is modest, the renovated basement helps maximize the home's functional footprint. The sale price point positions it as a relative value within Central River Heights.
This property would suit a pragmatic buyer who values land over a large existing structure. It's ideal for someone looking to enter the neighbourhood, potentially a first-time buyer, an investor, or a downsizer comfortable with a cozy main floor layout. The lot also holds quiet appeal for those with a long-term view, considering the potential for future additions or landscaping projects.
Frequently Asked Questions
Q: How does the lot size compare to others nearby?
A: The lot is a standout feature. At nearly 6,000 sqft, it is larger than the average lot for both Central River Heights and the city overall, offering more private outdoor space than many neighbouring properties.
Q: The living area seems smaller. How livable is the layout?
A: The main floor living area is indeed modest. However, the presence of a renovated basement significantly adds to the usable living space, effectively expanding the home's functional square footage beyond the main floor total.
Q: Is the assessed value a reliable indicator of the market price?
A: The recent sale price was higher than the assessed value, which is common. The assessed value is for taxation purposes, while the sale price reflects current market conditions, buyer demand for the lot and location, and the value of the renovations.
Q: What is the significance of the home's age?
A: Built in 1955, the home is newer than many on its street and in Central River Heights. This can sometimes mean updated core systems or a layout that feels more modern than older character homes, though specific conditions should be verified.
Q: What are the implications of a detached garage?
A: A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the main house's layout. It may also present future potential, but it does require going outdoors to access it from the house.