Property Overview
This one-storey home on a 3,299 sqft lot at 272 Larsen Avenue presents a specific and straightforward opportunity. Built in 1923, its key characteristic is the notable difference between its generous lot size and its modest 630 sqft living area, which is significantly smaller than most area homes. The property features a detached garage and an unrenovated basement. Its appeal lies in its position as a land-value proposition in the Chalmers neighbourhood, with an assessed value that is very modest for the city. This home would suit a buyer looking for an affordable entry point into homeownership, an investor seeking a rental property with land potential, or a hands-on individual viewing it as a long-term renovation project starting with a blank, smaller canvas. It’s less suited for those needing immediate move-in condition or more spacious interiors without significant investment.
Frequently Asked Questions
1. Is this a small house or a teardown opportunity?
The data suggests it's a very small house on a decent-sized lot. With living area rankings in the bottom 10% for the street and area, the existing structure is modest. Its value is likely anchored in the land, making it a candidate for expansion or eventual redevelopment, subject to local zoning.
2. How does the assessed value compare to the last sale price?
The property was last sold in May 2020 for $17,100 and currently holds an assessed value of $18,300. This indicates stable, modest valuation in line with the home's scale, not the rapid appreciation seen in some market segments.
3. What does "below average" for city-wide living area really mean?
It means this home's interior size is smaller than roughly 99% of all homes city-wide. Buyers should be prepared for compact living quarters, which is a trade-off for the lot size and price point.
4. The lot size is listed as "above average" for the street. How significant is that?
The lot is in the top 18% on Larsen Avenue, about 50 sqft larger than the street average. This offers slightly more outdoor space than many immediate neighbours, which is a relative advantage for gardening, parking, or future plans.
5. What can nearby property assessments tell me?
The provided comparisons on Martin Avenue W show homes with similar age but larger living areas and higher assessed values. This reinforces that 272 Larsen Avenue is priced for its current smaller size and condition, not necessarily its location alone.