Property Overview: 22 Mcmasters Road, Fort Richmond
Key Characteristics & Buyer Appeal
This 4-level split home, built in 1965, offers a practical layout with 1,567 sqft of living space and a renovated basement. Its living area is notably above average for its immediate street and the wider Fort Richmond neighbourhood. The property sits on a 5,895 sqft lot, which is typical for the city but slightly smaller than others on the block.
The primary appeal lies in its value proposition. The home’s assessed value is significantly below the average for Mcmasters Road and Fort Richmond, suggesting a potentially more accessible entry point into a stable, established area. This creates an opportunity for buyers who prioritize space and location over a modern build date. The renovated basement adds functional, updated living space.
This property would suit a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who is comfortable with a home from the 1960s and sees potential in its solid square footage and below-average assessment for the area. It’s for someone who values the character and mature streets of Fort Richmond and is prepared for the maintenance that comes with an older home, in exchange for more interior space than many newer offerings.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes on Mcmasters Road?
While the exact reason isn't specified, a lower assessment can be due to factors like the home's specific condition, updates needed, or its smaller lot size relative to the street. It's important to view this as a snapshot for tax purposes and not a direct market valuation.
2. What does "above average" for living area but "below average" for lot size mean practically?
It means you get a relatively spacious interior compared to neighbours, but your outdoor space is more compact. This is a common trade-off and may appeal to those who prioritize indoor living space over extensive yard maintenance.
3. The home is 61 years old. What should I be mindful of?
While the basement has been renovated, a home from this era may have original major systems (like plumbing, electrical, or the roof) that are nearing or past their typical lifespan. A thorough inspection is essential to understand the condition and any upcoming capital costs.
4. How does the 4-level split layout function in daily life?
This style creates distinct, separated living zones, which can be great for privacy or noise separation between living and sleeping areas. However, it also means navigating several short flights of stairs, which is a consideration for mobility or for families with young children.
5. The last recorded sale was in 2016. Is that a concern?
A long ownership period is common in established neighbourhoods and often indicates a stable, well-maintained area. It suggests the sellers have a deep knowledge of the home and the community, which can be a valuable resource during the purchase process.