Property Overview
This 1914-built, one-and-a-half storey home on Larsen Avenue in Chalmers presents a specific and practical opportunity. Its key appeal lies in its efficient use of space and its position within the local market context. With 1,180 sqft of living area, it offers significantly more interior space than many immediate neighbours and comparable homes in the Chalmers area. The lot size is typical for the street and neighbourhood, providing a standard urban yard. Notably, the home’s assessed value is modest and sits above average for Larsen Avenue, but well below the citywide average, indicating a more accessible entry point into homeownership. The property has no basement, pool, or garage.
This home would suit a first-time buyer or an investor looking for a straightforward, character home in an established neighbourhood without the premium of a larger, modern lot. Its above-average living space for the area is a definite asset for those needing room but mindful of budget. It’s less suited for buyers prioritizing modern builds, extensive amenities, or the potential for a basement suite.
Key Questions & Considerations
1. What does "no basement" mean for storage and utilities?
All mechanical systems (furnace, water heater) and storage will be confined to the main living floors. Buyers should plan for creative storage solutions and ensure there is adequate closet and utility space on the main level.
2. How does the 1914 build year affect the home?
While the home has historical character, it likely requires diligent maintenance. Prospective buyers should prioritize a thorough inspection focusing on the foundation, wiring, plumbing, and insulation to understand any needed updates or associated costs.
3. The assessed value is much lower than the city average. Is this a concern?
Not inherently. This reflects the home’s age, features, and the generally more affordable property values in the Chalmers area compared to newer city developments. It typically translates to lower property taxes, which is a financial advantage.
4. The living area is above average for the area, but the lot is average. What does this suggest?
This indicates the house occupies a good portion of its lot, which is common for older neighbourhoods. It offers more interior space relative to nearby homes but may have a smaller or more typical yard for gardening or outdoor activities.
5. Who might the nearby "similar assessed value" properties be relevant for?
These listings are useful for understanding what your budget could command in different neighbourhoods. They help illustrate whether you are prioritizing interior space and location (like this home) versus potentially newer features or different layouts elsewhere in the city at a similar tax valuation.