Property Overview: 82 Leeds Avenue, Fort Richmond
Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a solid, grounded opportunity. Built in 1973, it stands out on its street as one of the newest homes in the area. The property’s key strength is its generous 7,198 sqft lot, which is above average for both the neighbourhood and the city, offering valuable outdoor space and potential. The living area of 1,256 sqft is comfortably in line with local averages.
The home’s appeal is rooted in its established community and practical layout, featuring an attached garage and a renovated basement that adds functional living space. Its assessed value ranks consistently above average across all comparison levels, suggesting the property is viewed favorably in terms of municipal valuation. Recent sold price data indicates strong market performance.
This home would suit a buyer looking for a manageable single-level layout in a mature neighbourhood, who values a larger-than-standard lot for gardening, recreation, or future expansion. It’s a practical choice for downsizers, small families, or investors attracted by the renovated basement’s income potential, all within a context of stable, above-average value.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The land area of 7,198 sqft is a significant feature. It places the property in the top 15% citywide and above average for the street and Fort Richmond, offering more private outdoor space than many comparable homes.
2. What does the "above average" assessed value indicate?
The assessed value of $45,900 ranks in the top 25% for Fort Richmond. This generally reflects a municipal assessment that is higher relative to peers, which can be indicative of the property's condition, improvements, or desirable attributes, though it is not a direct marker of market price.
3. The home was built in 1973. Is that a concern?
While 53 years old, the data shows this is actually the newest home on Leeds Avenue (top 2% for the street). This suggests potentially newer major systems or updates compared to immediate neighbours, though a thorough inspection is always recommended.
4. How has the property's value performed recently?
Based on available sold price ranges, the property sold for approximately $51.5k–$54.5k in August 2022, which was a top 5-6% price for the area at that time. This follows a sale in the $39.5k–$42.5k range just two months prior, indicating notable market activity.
5. What are the practical implications of a "renovated basement"?
A renovated basement adds immediate functional living space, which could be used as a rec room, home office, or separate suite. It’s a key feature that adds utility and may contribute to the home's above-average assessment and appeal.