Property Overview: 78 Temple Bay, Fort Richmond
Section 1: Key Characteristics & Appeal
This well-situated Fort Richmond home is a classic one-storey bungalow built in 1966, offering a practical and comfortable layout with 1,319 sqft of living space. Its key updated feature is a renovated basement, adding valuable finished space. The property stands on a generous 6,706 sqft lot, which is notably larger than the city-wide average, providing ample outdoor room. A detached garage completes the package.
The appeal here is grounded in solid value and space. The home’s metrics—its living area, assessed value, and lot size—consistently rank around or above average for its immediate street, neighbourhood, and the wider city, suggesting it’s a proportionate offering in the market. The renovated basement is a significant functional upgrade, immediately expanding usable living area without the need for a major project. The large lot is a standout asset, offering potential for gardening, recreation, or future expansion.
This property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature neighbourhood. It’s also a sensible fit for a value-oriented buyer who appreciates having one major renovation (the basement) already completed and sees potential in the substantial lot size.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to others in the area?
Based on assessed value and recent sold price history, this home consistently performs around the neighbourhood average. Its value proposition lies more in its above-average lot size and the fact the basement is already renovated, rather than in being priced significantly below market.
2. What does the “renovated basement” include?
The listing confirms the basement is renovated but does not specify the scope or finish. This is a key detail to clarify with the seller or agent to understand the quality of the renovation and whether it includes legal secondary egress, a bathroom, or a proper kitchenette.
3. Is the large lot a benefit for future expansion?
Potentially, yes. The lot size is in the top 20% city-wide, which is uncommon for bungalows in mature areas. This could provide room for an addition, a large garage/workshop, or simply more private outdoor space than typical properties. Local zoning bylaws would need to be verified.
4. The home was built in 1966. What should I be aware of?
While the systems and structure may have been updated over time, a home of this age may still have original components like plumbing, electrical, or the roof nearing the end of their lifespan. A thorough inspection is essential to understand the condition and timing of any potential updates.
5. How stable have property values been on this street?
Sold price data for the home itself shows it sold in 2019 and again in 2021. The price increase between those sales was modest, suggesting steady, conservative growth rather than volatile swings, which can be attractive for long-term stability.