Property Overview
This one-storey home on a generous lot in Central River Heights presents a specific and appealing opportunity. Its key characteristic is the significant land size of over 6,000 sqft, which places it well above average for both the street and the desirable neighbourhood. The home itself is more modest in size at 1,139 sqft and dates to 1954, but it features a renovated basement and a detached garage. Its appeal lies in this land-to-building ratio, offering space for gardens, play, or future expansion in a prime location. The property would suit a buyer who values land potential over immediate square footage—perhaps a first-time buyer looking to build equity, a downsizer wanting manageable indoor space with outdoor room, or a long-term investor attracted by the lot value in a stable area. It’s a property where the true value may be more in what you can do with it over time than in its current footprint.
Frequently Asked Questions
1. Is the lot size typical for the area?
No, it’s a standout feature. At 6,026 sqft, the lot is larger than approximately 80% of properties on Ash Street and in the Central River Heights neighbourhood, offering a rare amount of private outdoor space.
2. How does the home's size compare?
The living area is below average for the immediate street but is generally on par with the city-wide average for homes. This suggests the home is a comfortable size, but the property's premium is in the land, not the interior square footage.
3. What does the sale history indicate?
The significant jump in sale price from 2016 to 2017 likely reflects a major update or renovation (the basement is noted as renovated). This history suggests the property has already seen substantial improvement, potentially reducing immediate upgrade costs.
4. Who might this property not suit?
Buyers seeking a large, move-in-ready home with ample above-ground living space may find it limiting. It’s better suited for those comfortable with a cosier layout or those with plans to potentially modify or expand over time.
5. Is the assessed value a good indicator of the market price?
Not directly. The municipal assessed value for taxation purposes ($42.70k) is consistently much lower than recent sale prices, which is common. Market value is determined by recent comparable sales, like the 2017 sale at $360k and current neighbourhood trends.