Property Overview
This well-situated home on a generous lot in Island Lakes offers a blend of established neighbourhood charm and practical updates. Its key appeal lies in its balance: it provides solid value in a mature area with larger lots, while the renovated basement adds immediate modern living space without the premium of a brand-new build. The property suits first-time buyers or downsizers looking for a manageable single-family home with room to grow, as well as value-conscious buyers who prioritize lot size and a quiet, established street over a more recently constructed house.
Key Characteristics & Appeal
- The Home: A 1,464 sqft cabover-style home built in 1997, featuring an attached garage and a renovated basement, which significantly expands its usable living area. The lot is a substantial 4,924 sqft, offering ample outdoor space.
- The Neighbourhood: Located in the established Island Lakes area, known for its green spaces, waterways, and community feel. The home sits on a street where its lot size ranks above average, providing a sense of privacy and room that can be harder to find in newer subdivisions.
- Value & Market Position: With a recent sale in 2021 and an assessed value that aligns closely with the sale price, the home presents a stable, predictable value proposition. Its metrics show it performs well within its immediate area for lot size and living space, though it is an older build compared to many nearby comparables in newer neighbourhoods like Sage Creek and Fraipont. This often translates to a more affordable entry point into a desirable family-oriented community.
- Who It Suits: Ideal for buyers seeking a "move-in ready" home with foundational work already done, particularly the basement. It’s also a strong fit for those who value larger, treed lots over a newer construction date. The size and layout make it manageable for smaller households but still functional for a growing family.
Frequently Asked Questions
1. How does the age of this home (1997) compare to others in the area?
While newer subdivisions like Sage Creek feature homes built in the 2010s and 2020s, this home is typical for the established Island Lakes neighbourhood. Its build year is newer than many original homes in the area and ranks in the top 30% for its specific street.
2. What does the "renovated basement" typically include in a home of this age?
While specifics require a viewing, a renovated basement in a 1990s home often means finished living space such as a rec room, additional bedrooms, or a home office. It’s a key feature that adds functional square footage without the buyer needing to undertake a major project.
3. The lot is large, but how does the living area compare?
At 1,464 sqft, the above-ground living area is modest compared to the lot size. This is characteristic of many homes from this era. The renovated basement effectively increases the total usable space, making the property feel larger than the main floor square footage suggests.
4. How does the assessed value relate to the likely asking or sale price?
The assessed value ($46.60k) is for municipal tax purposes and is historically based. It is notably lower than the home's last sold price in 2021 ($47.50k) and will be significantly below current market value. Always rely on a comparative market analysis from your realtor for pricing.
5. What are the trade-offs between this home and a newer build in Sage Creek?
This home offers a larger, more established lot in a mature neighbourhood with mature trees and landscaping. A newer build in Sage Creek would offer modern layouts and materials but typically on a smaller lot. The choice often comes down to prioritizing outdoor space and established community versus newer construction and interior finishes.