Property Overview: 502 Harbison Avenue W
Key Characteristics & Appeal
This 1959-built, one-storey home in Chalmers sits on a generous 3,324 sqft lot, offering more space than most in the immediate area. Its key feature is a renovated basement, adding valuable finished living space to the 699 sqft main floor. The home has a detached garage and ranks highly for its newer build year compared to many neighbouring houses, suggesting potentially fewer immediate upkeep concerns than century-old properties nearby.
The appeal lies in its position as a practical, grounded property. It suits a first-time buyer or downsizer looking for a manageable single-level layout with a move-in-ready basement, or an investor seeking a stable rental in a long-established neighbourhood. The lot size is a standout, offering outdoor space and future potential that many similarly priced properties lack. A thoughtful perspective is that while the living area is compact, the renovated basement and large lot provide flexible space for hobbies, storage, or expansion, balancing the smaller main footprint. It represents a sensible entry into homeownership without the high maintenance of an older character home, but with more land than a typical new infill.
Frequently Asked Questions
1. How does the assessed value relate to the likely listing price?
The assessed value of $240k is a municipal valuation for tax purposes. The listing price will be set by the market, but this assessment places the home in the top 20-30% of similar properties in the area, indicating a solid perceived value.
2. What does the "renovated basement" typically include?
While specifics should be verified, in homes of this era, a renovated basement often means a finished recreational room, laundry area, and possibly additional storage or a utility space. It implies a livable, insulated area rather than raw storage.
3. The living area seems smaller than nearby homes. Is the house actually smaller?
Yes, the main living area is 699 sqft, which is compact. However, the renovated basement effectively adds more usable space. The significant lot size (over 3,300 sqft) also means the home's footprint could potentially be expanded in the future, subject to zoning.
4. The build year ranks highly. Is that a major advantage?
Being built in 1959 makes it notably newer than many surrounding homes built in the early 1900s. This can mean updated electrical, plumbing, and structural components, potentially reducing the risk and cost of major system replacements common in century-old homes.
5. What is the neighbourhood character like?
Chalmers is a mature, established neighbourhood. The mix of old and newer homes on the street, like the 2024 build nearby, shows an area in transition. This can offer stability with a hint of ongoing renewal, but it's wise to visit at different times to gauge street activity and neighbour upkeep.