Property Overview: 65 Cornell Drive, Fort Richmond
Key Characteristics, Appeal & Ideal Buyer
This one-storey home at 65 Cornell Drive is a solid, well-positioned property in Fort Richmond. Built in 1972, it stands out on its street as one of the newest homes in the area, offering a relative advantage in terms of potential building systems and updates. With 1,341 sqft of living space and a renovated basement, it provides practical, single-level living. The attached garage and a notably above-average lot size of 6,710 sqft add to its functional appeal, providing valuable outdoor space and storage options not always found in similar homes.
The home’s primary appeal lies in its balanced, above-average positioning across key metrics. While its living space is average for the city, its assessed value consistently ranks in the top 28-30% of its immediate area, street, and city-wide, suggesting it is viewed as a strong value property by municipal assessment. This combination of a newer build year, a generous lot, and a renovated basement presents a move-in ready canvas. It would suit practical buyers such as downsizers seeking single-level convenience, first-time homeowners looking for a stable property in a established neighbourhood, or value-focused investors attracted by its strong assessment history and recent sale activity.
Frequently Asked Questions
1. How does the property’s value compare to recent sales?
The home sold most recently in late 2024. While the exact price is available upon request, the data shows that sale price ranked in the top 22-29% compared to city-wide averages at the time, indicating a competitive market position.
2. What does the “above average” assessed value mean for taxes or resale?
An assessed value that ranks above average for the area generally reflects the municipality’s view of the property’s worth relative to others. It can be a sign of good upkeep and desirability, but it also typically correlates with proportionately higher property taxes than a lower-assessed home nearby.
3. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income or separate living quarters.
4. The home is newer than most on the street. What are the implications?
Being built in 1972, it is significantly newer than the street average (~1967). This can mean updated building materials, electrical, and plumbing compared to older neighbours, potentially reducing immediate renovation needs.
5. How does the lot size impact future potential?
The lot is above average in size for both the street and city-wide. This not only allows for more private outdoor space but may also provide greater flexibility for future additions, landscaping projects, or even subdivision, subject to local zoning bylaws.