Property Overview
This well-situated one-storey home in Fort Richmond offers a practical layout on a generous lot. Its key appeal lies in the balance of established neighbourhood character, recent updates, and a manageable footprint. The home sits on a large 6,157 sqft lot, which is notably above average for the street and neighbourhood, providing ample outdoor space and potential. A recently renovated basement adds valuable finished living area. Built in 1967, the house is newer than most on its street and in the wider area, which can be advantageous for core systems. The sale price in March 2024 was closely aligned with the assessed value, suggesting a stable and realistic market valuation.
This property would suit first-time buyers or downsizers looking for a single-level living arrangement in a mature, convenient area. It’s also a sensible choice for a pragmatic investor or a buyer who values a larger yard over a larger house, seeing the land as a key asset. The renovated basement adds flexibility for a home office, family space, or potential rental income.
Frequently Asked Questions
Is the lot size a significant advantage?
Yes. At over 6,150 sqft, the lot is substantially larger than many in the area. This not only provides more private outdoor space but also represents a long-term value that is increasingly rare in established neighbourhoods.
How does the recent sale price compare to the neighbourhood?
The home sold for $400,000, which places it almost exactly in the middle (50th percentile) for the Fort Richmond neighbourhood, indicating it is a typical price point for the area and not an outlier.
What does "newer than most" for a 1967 home mean?
While 1967 is not new, the data shows this home is newer than approximately 77% of homes in Fort Richmond and 89% of homes on its own street. This suggests the immediate area is very mature, and this property may have slight advantages in things like original construction materials or layout trends.
Is the living space suitable for a growing family?
At 1,096 sqft on the main floor (plus the renovated basement), the living area is modest. It is below the neighbourhood average. It would suit a small family comfortably, but a larger family should prioritize viewing to assess the layout and the space provided by the basement renovation.
How does the assessed value relate to the sale price?
The sale price ($400k) came in slightly above the assessed value ($380k), which is a common occurrence in an active market. This close alignment generally indicates the sale was in line with municipal valuation metrics and recent area sales.