Property Overview
This one-and-a-half storey home on Winterton Avenue in Chalmers is defined by its generous proportions and established character. Built in 1914, its primary appeal lies in its exceptionally large, nearly 6,000 sqft lot, which ranks in the top 1% for the street and top 3% for the neighbourhood. This offers rare potential for expansion, gardening, or outdoor living in the area. The 1,520 sqft living area is also notably spacious, ranking in the top 4% locally. The home features an attached garage and a renovated basement, adding modern functionality to a classic footprint. It last sold in 2020 for $220k, with a current assessed value of $24,800.
This property would best suit a buyer who values space and potential over a turn-key modern build. It’s ideal for someone looking for a character home with one of the largest lots in the area, perfect for future projects or simply enjoying ample private outdoor space. The renovated basement and good living area provide a solid foundation to update the century-old main structure to one's own taste.
Key Questions for Consideration
1. What does the "renovated basement" entail?
The listing notes the basement is renovated, but specifics on finish quality, ceiling height, moisture management, and legal egress are essential details to request, as these factors greatly influence livability and value.
2. How does the assessed value relate to market value?
The assessed value for taxation purposes ($24,800) is significantly lower than the 2020 sale price ($220k). Buyers should focus on recent comparable sales and current market conditions, not the assessment, to determine fair market value.
3. What is the true significance of the lot size rankings?
While the lot is elite for the immediate street and Chalmers, the city-wide ranking is average. This highlights that the premium is specifically for local scarcity—you're getting a standout property in this particular community, which is a key part of its appeal.
4. What should I investigate due to the home's age (1914)?
A thorough inspection for century-old home concerns is crucial. Priority areas include the foundation, original wiring and plumbing, insulation, and the roof. The recent basement renovation should also be checked for proper permits.
5. What’s the neighbourhood context of Chalmers?
Researching Chalmers' amenities, schools, transit links, and future development plans will provide context. Understanding the typical mix of well-kept character homes versus renovation projects on the street will help gauge the property's fit and potential.