Property Overview: 35 Mount Allison Bay, Fort Richmond
Key Characteristics & Appeal
This 1971 bi-level home in Fort Richmond presents a compelling case for value-focused buyers who prioritize land over living space. Its key characteristic is the substantial 11,050 sqft lot, which ranks in the top 5% locally and city-wide, offering exceptional outdoor potential. The home itself is modest at 864 sqft of living area, placing it below average in size for the neighbourhood, but it features a renovated basement. A detached garage adds practical storage or workshop space.
The appeal lies in this land-to-building ratio. It’s a property where the true value is anchored in the generous, private yard—a rarity in today’s market—while the house provides a functional, updated foundation. It would suit a first-time buyer looking for an affordable entry into a stable neighbourhood with room to grow outdoors, or a practical investor or downsizer who values low maintenance without sacrificing private outdoor space. The home’s assessed value is strong for its immediate street, suggesting it is a standout property on Mount Allison Bay.
Frequently Asked Questions
1. Is the house too small for a family?
While the living area is below the neighbourhood average, the renovated basement effectively adds usable space. The generous lot also provides significant room for children to play or for future expansion, such as a deck or addition, making it workable for a small family.
2. Why is the assessed value so high compared to nearby sold prices?
The assessed value is elite for the street (top 5%), likely reflecting the premium value of the very large lot. Past sold prices may not fully capture this unique attribute or the basement renovation, indicating potential value not yet realized in recent market transactions.
3. What does the "Elite" ranking for land area actually mean?
It means this property’s lot size is larger than approximately 95% of comparable homes both on its street and across the entire city. It is the property's most distinguished feature.
4. Is a 55-year-old home a concern?
The year built (1971) is typical for Fort Richmond and is actually above average for its specific street. This suggests the home is in line with, or newer than, many in the immediate area. A thorough inspection is always advised to understand the condition of major systems.
5. Who would this property not suit?
It may not suit buyers seeking a large, move-in-ready home with ample interior space or modern open-concept layouts. The appeal is geared toward those who see potential in the land and are comfortable with a compact, functional floor plan.