Property Overview
This 2005-built home on Evelyne Reese Boulevard in Island Lakes is a study in contrasts, offering a specific value proposition. At 1,483 sqft with a renovated basement and an attached garage, it presents as a solid, move-in-ready family home. Its appeal lies in its above-average assessed value relative to its immediate street and the city, suggesting good internal condition or updates, paired with a significantly larger-than-average lot for its neighbourhood. However, it's a home with a smaller living footprint compared to others on the same street.
It would best suit pragmatic buyers who prioritize lot size and perceived value over sheer interior space. This could be a fit for a young family looking for outdoor room to grow in a well-established area, or a value-conscious buyer who sees the renovated basement as immediate liveable space. It's less suited for those seeking a large, open-concept interior typical of newer builds.
Key Questions & Considerations
Is the lot size a true advantage here?
Yes, at over 4,100 sqft, the lot is well above average for Island Lakes. This offers more private outdoor space than most in the area, a boon for gardening, play, or future additions like a deck or shed.
How does the living area compare?
The home's living area is modest. It ranks below average for its own street, meaning many direct neighbours have larger interiors. The renovated basement helps offset this, providing additional functional space.
What does the assessed value tell us?
With an assessed value ranking in the top 21% on its street and city-wide, the property is formally valued higher than many peers. This often reflects factors like renovations, quality of finishes, or overall condition, rather than just size or age.
The home was built in 2005. What should I consider?
Built 21 years ago, it's newer than the city average but older than most in Island Lakes. This means major components (roof, HVAC, windows) may be nearing or have recently undergone replacement. It's wise to inquire about the age of these key items.
How does the last sale price (2016) relate to today's value?
The 2016 sale price is a historical marker, not a current valuation. The substantial increase in assessed value since then indicates significant market appreciation and/or improvements made to the property over the last nine years.