Property Overview
This is a compact, one-storey home built in 1910, situated on a 2,264 sqft lot in the Chalmers neighbourhood. With 600 sqft of living space, an unrenovated basement, and no garage, its key characteristics are its modest scale and its very low assessed value. The home last sold in July 2024 for $17,200.
Its primary appeal lies in its position as an entry-point property. It represents one of the most accessible price points in the city, suited for a specific buyer: an investor looking for a straightforward rental property, a hands-on owner seeking an extremely low-cost footprint with renovation potential, or a buyer prioritizing minimal property tax and carrying costs above all else. A thoughtful perspective is that the very small living area and older vintage, while below average in most metrics, translate directly to its affordability and lower maintenance burden. It’s a practical choice for utility over space.
Frequently Asked Questions
1. What is the true cost of ownership given the low price?
While the purchase price is very low, buyers should budget for the realities of a 116-year-old home. Key considerations will be the condition of major systems (roof, foundation, plumbing, wiring) and the cost to modernize the unrenovated basement to a livable or rental standard.
2. Is the land size a pro or a con?
The lot is below average for the street and area, which limits expansion possibilities. However, for the target buyer, this can be an advantage: it means less exterior maintenance, lower landscaping costs, and a focused, manageable property.
3. Who is this property not suited for?
It is not suited for buyers seeking move-in-ready comfort, growing families needing space, or anyone unable to handle ongoing maintenance or renovation projects. The limited living area is a defining constraint.
4. How does the assessed value relate to the sale price?
The home recently sold for $17,200, which is close to its $14,200 assessed value. This alignment suggests the market views the property primarily for its land value and basic structure, not for updated finishes or amenities.
5. What are the comparable properties nearby?
The listing references nearby homes on Harbison Avenue W and similar-valued properties in Chalmers, such as 401 Union Avenue W. These comparables are useful for confirming the prevailing price range for very modest, older homes in this specific pocket of the neighbourhood.