Property Overview
This one-storey home on Gordon Avenue is a classic, no-frills property built in 1907. Its primary appeal lies in its value proposition and potential. With a modest 936 sqft living area and an unrenovated basement, it presents a straightforward canvas. The lot size of 2,744 sqft is notably above average for the immediate street, offering more outdoor space than many neighbours. The home last sold for $100k in 2020, and its current assessed value is significantly lower than both area and city averages, which could indicate a lower property tax burden or an opportunity for value increase. This property would suit a first-time buyer comfortable with a home that needs updating, an investor looking for a rental property with a manageable entry cost, or someone seeking a modest footprint with a relatively generous lot in the Chalmers neighbourhood.
Frequently Asked Questions
What does the "below average" assessed value mean for me?
A low assessed value typically translates to lower municipal property taxes, which is a direct ongoing cost saving. It can also suggest the property has significant upside potential if improvements are made, though it may also reflect the current condition of the home.
How significant is the above-average lot size on this street?
In an older neighbourhood where lots can be compact, having a land area in the top 27% on your street is a tangible asset. It provides more private outdoor space, better potential for additions or landscaping, and a feeling of openness that is less common on the block.
The home is 119 years old. What should I prioritize in an inspection?
Beyond standard checks, focus on the foundational integrity common to homes of this era, the state of the original plumbing and electrical systems, and the condition of the roof and insulation. The unrenovated basement warrants particular attention for moisture control and structural soundness.
Who are the typical buyers in this situation?
This property often attracts practical buyers: first-time homeowners using it as an affordable entry point to build equity, hands-on types who see the value in gradual DIY updates, or investors seeking a rental property with a lower initial investment and associated tax costs.
How does the 2020 sale price compare to today's market?
The $100k sale price from 2020 provides a recent benchmark, but market conditions have evolved. It’s essential to get a current market evaluation to understand how local trends, the home’s condition, and its unique lot size influence its present-day value.