Property Overview
This 820 sqft, one-storey home on a 4,232 sqft lot in Deer Lodge presents a straightforward, value-oriented opportunity. Built in 1918, its key characteristic is its modest scale, with living space and assessed value ranking below averages for the street, neighborhood, and city. The appeal lies in its affordability and its larger-than-average lot for the immediate area, offering potential for expansion or outdoor space that many nearby properties lack. The basement exists but is unrenovated, and there is no garage.
This property would suit a first-time buyer comfortable with a project, an investor looking for a rental with land value, or a downsizer seeking a manageable footprint without a high property tax burden. It’s a practical choice for those who prioritize land size and location over move-in-ready finishes, viewing the home’s condition as a canvas for gradual improvement.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is older and modest in size, it is functional. The value is likely split between the structure and the land. A buyer could choose to live in and update it over time or, subject to zoning, consider a more significant renovation or replacement in the future.
2. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The sale price of $21.70k reflects the current market agreement between a buyer and seller, which can be influenced by factors beyond the assessment.
3. What are the implications of having no garage?
This means parking will be on-street or potentially via a driveway that could be added to the lot. For some buyers, this is a trade-off for lower maintenance and cost. It’s important to verify on-street parking regulations with the city.
4. The home is below average in size for the area. Is that a major concern?
It depends on your needs. For a single person, couple, or small family, the space may be sufficient, especially with a full basement for storage or future development. The lot size helps compensate, providing room for decks, gardens, or storage sheds.
5. What does "basement, not renovated" typically mean for a house of this age?
It likely indicates a traditional, functional cellar space with concrete walls and floor, housing the furnace and utilities. It may have low ceilings, limited insulation, and be unfinished. It provides crucial storage and mechanical access but should not be considered livable space without significant investment.