Property Overview & Key Characteristics
This one-and-three-quarter storey home on Lipton Street is a classic Daniel McIntyre property, built in 1913. Its primary appeal lies in a combination of established character and practical updates. The home sits on a notably generous 2,344 sqft lot, which ranks within the top 20% for size on its street, offering valuable outdoor space and potential in a mature neighbourhood. A key modern feature is the renovated basement, adding functional living space to the 1,040 sqft main footprint. The detached garage provides flexible storage or workshop space.
Its value proposition is nuanced. While the living area is modest and typical for its era, the lot size and recent basement renovation are significant assets. The assessed value sits higher than many nearby comparables, which may reflect these improvements and the desirable lot. This property would suit a buyer looking for a home with classic architecture and a sizable yard within the city, who appreciates having major renovation work already completed on the basement. It’s a practical choice for someone wanting character without starting from a full fixer-upper state, and who values outdoor privacy more than expansive interior square footage.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
The 2,344 sqft lot is a standout feature, ranking in the top 18% on Lipton Street for land area. This is significantly larger than many neighbouring properties and offers more private outdoor space than is typical.
2. The home was built in 1913. What should I consider?
While the renovated basement is a plus, a home of this age will have vintage character and require ongoing attention to its original components. Prospective buyers should prioritize a thorough inspection of the foundation, roof, wiring, and plumbing to understand the blend of updated and original systems.
3. Why is the assessed value higher than several nearby homes?
The assessed value of $270k is above many direct neighbourhood comparables. This is likely attributed to the combination of the large lot size and the renovated basement, which add measurable value compared to homes without these features.
4. What is the neighbourhood like?
Daniel McIntyre is a long-established, diverse inner-city neighbourhood. It offers a mix of residential character, local businesses, and good connectivity. Buyers should explore the specific block and surrounding streets to get a feel for the immediate community.
5. Is this a good investment property?
The large lot and existing renovation could be appealing for long-term value. However, the higher assessed value and property taxes compared to nearby homes mean investment calculations should be carefully weighed against potential rental income or future appreciation in this specific area.