Property Summary: 497 Maryland Street
Key Characteristics & Appeal
This two-storey home, built in 1905, offers 1,554 sqft of living space on a notably generous 3,741 sqft lot in the Daniel McIntyre neighbourhood. Its appeal lies in a balanced offering of established character and practical potential. The living space is comfortably above average for both the neighbourhood and the city, providing ample room, while the lot size stands out as significantly larger than many nearby properties, offering valuable outdoor space or future expansion possibilities. The home features a detached garage and an unrenovated basement, presenting a classic canvas.
It would suit a practical buyer who values space and location over turn-key finishes. This could be a first-time homeowner ready to put in sweat equity, an investor looking for a solid rental property with good lot value, or someone seeking an established inner-city neighbourhood with room to grow. The recent sale history suggests a property that has appreciated, yet its assessed value remains moderate for the area, indicating a potential value opportunity for the right buyer.
Frequently Asked Questions
1. What does "basement not renovated" typically mean for a home of this age?
It generally indicates original or dated finishes, mechanical systems, and layout. It presents both a project and an opportunity to customize the space to modern standards without paying a premium for a prior renovation.
2. How does the lot size compare to newer homes?
While below the citywide average (which includes many newer suburban lots), this property's lot is in the top 10% within Daniel McIntyre. This larger parcel is a key asset in an established neighbourhood where land is at a premium.
3. The home is older than most in the city. What should I consider?
Its 1905 build date is typical for the street but requires attention to aging components like wiring, plumbing, and insulation. A thorough inspection is essential, but this vintage also often comes with solid construction and character details not found in newer builds.
4. The assessed value seems low compared to recent sale prices. Why?
Municipal assessed value for taxation purposes often lags behind market value. The sale price from 2023 is a more current indicator of its market worth, reflecting buyer demand for the location and the property's specific attributes.
5. What is the significance of the detached garage?
Beyond vehicle storage, a detached garage on a large lot offers flexibility. It can serve as a workshop, studio, or additional storage, and its separate structure can make future landscaping or suite development projects simpler.