674 Lansdowne Avenue

Property Overview: 674 Lansdowne Avenue

Key Characteristics & Appeal

This one-and-a-half storey home on Lansdowne Avenue is a solid, established property in the Inkster-Faraday neighbourhood. Built in 1948, it offers 1,196 sqft of living space and sits on a 4,834 sqft lot, with a renovated basement and a detached garage. Its appeal lies in its strong positional value within its immediate area. While its size and assessed value are around the city-wide average, the home stands out locally: it ranks above average for the Inkster-Faraday neighbourhood in assessed value, lot size, and year built, suggesting it is a comparatively newer and more valuable property within that community context.

This home would suit a practical buyer looking for a character home with modernized fundamentals (like the renovated basement) in a mature neighbourhood. It’s ideal for someone who values the space of a decent-sized lot and a detached garage, possibly for hobbies, storage, or vehicle protection. The data indicates it may offer good relative value for someone prioritizing investment within the local area over a newer home in a suburban subdivision.

Frequently Asked Questions

1. How does this home compare to others on the street and in the area?
The home is consistently around or above average for Lansdowne Avenue and the broader Inkster-Faraday neighbourhood in key metrics like living area, lot size, and assessed value. Notably, it is newer than most homes in the area and has a higher assessed value than approximately 94% of comparable properties in Inkster-Faraday.

2. What is the significance of the "renovated basement"?
While the listing notes a renovated basement, specific details on the scope, quality, permits, or finished square footage are not provided. This is a positive feature indicating updated utility space, but buyers should inquire about the nature of the renovation, its intended use, and whether it includes moisture-proofing, given the home's age.

3. The assessed value seems low compared to city-wide averages. Why?
The assessed value of approximately $27,700 is for municipal tax purposes and is not a market valuation. It is calculated using a standardized provincial formula. The key takeaway is its ranking: this assessment is significantly higher than most homes in its immediate neighbourhood, which can be a marker of relative quality and condition locally.

4. What can the 2017 sale price range tell me?
The prior sale price range (approximately $24.5k - $27.5k) provides a historical benchmark, but it is from eight years ago. Market conditions have changed substantially since then. This data point is more useful for understanding long-term ownership than for determining current market value.

5. The home is 78 years old. What should I consider?
While the renovated basement is a plus, a home of this age will have core components at or beyond their typical lifespan. A priority should be to investigate the condition of major systems not mentioned in the listing, such as the roof, plumbing, electrical wiring, and the foundation. The detached garage is also likely original and may require maintenance.