Property Overview & Appeal
This one-storey home at 452 Thames Avenue is defined by its generous 5,520 sqft lot, which is notably larger than most in the immediate area and the broader Chalmers neighbourhood. The house itself, built in 1913, is compact at 748 sqft of living space, but features a renovated basement. A detached garage completes the property. Its primary appeal lies in the significant land size for the area, offering ample outdoor space and potential in a location where that is becoming rarer. The recent basement renovation adds modern livability to the classic structure.
This property would best suit a value-conscious buyer looking for a solid foundation—literally and figuratively. It’s ideal for someone who prioritizes yard space over square footage, sees potential in older homes, and may be comfortable with a project or expansion down the line. It could also appeal to an investor seeking a rental property with a strong land component in a stable neighbourhood.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The lot is in the top 17% on its own street and top 6% in the Chalmers neighbourhood for size. This is the property's standout feature, offering more private outdoor space and future potential than many nearby homes.
2. How does the home's age affect things?
Built in 1913, the home is older than the citywide average. Buyers should budget for maintenance typical of a century-old structure and ensure proper inspections. However, its age is typical for the immediate area, and many homes of this era were built with durable materials.
3. The living area seems small. Is the house functional?
At 748 sqft, the main floor living space is below average. The renovated basement effectively doubles the usable area, making the overall footprint more practical for daily living.
4. Why is the assessed value so much lower than the recent sale price?
The assessed value is for taxation purposes and often lags behind the current market. The sale price of $27,300k reflects what a buyer was recently willing to pay in the open market, indicating perceived value beyond the official assessment.
5. What does the sale history tell us?
The home sold previously in 2017 for $22,500k and again in late 2024 for $27,300k. This shows a clear appreciation in value over seven years, suggesting the area is active and the property has maintained or increased its market appeal.