Property Overview
This well-situated one-storey home in Margaret Park offers a practical and comfortable living space on a generous 5,014 sqft lot. Built in 1966, its key appeal lies in its above-average living area (1,240 sqft) for the street and neighbourhood, ranking in the top 20% locally. The home features a renovated basement, adding valuable finished space. Its assessed value is modest relative to its size, suggesting potential value for the square footage. The lot size is a significant asset, offering ample outdoor space that is larger than most in the immediate area.
The property would suit first-time buyers or downsizers looking for a manageable single-level layout with room to grow or relax outdoors. It also appeals to value-conscious buyers seeking a home with a move-in-ready basement in a mature neighbourhood, where the land itself represents a substantial portion of the investment. A less obvious perspective is that homes from this era often have simpler, more robust construction and a straightforward floor plan that can be easier and more affordable to maintain or update over time compared to much older or newer builds.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 16%") actually mean?
This shows how the property compares to others in the named area (street, neighbourhood, or city). For example, living area in the "Top 16%" on its street means 84% of homes on Newton Avenue have a smaller living area. It's a quick way to see the home's relative size and value.
2. Is the low assessed value a concern?
Not necessarily. Municipal assessed value for taxation purposes often lags behind market value and doesn't account for interior condition or recent renovations (like the basement). It can indicate a favourable tax base, but the sale price will be determined by the current market.
3. What are the implications of having no garage?
This is common for homes of this vintage. The large lot provides ample space for driveway parking and potential to add a garage or shed in the future, subject to local bylaws. Buyers should budget for seasonal tasks like clearing snow from a driveway.
4. The home is 60 years old. What should I be mindful of?
While the renovated basement is a plus, it's wise to have a thorough inspection focusing on the core systems: the roof, foundation, plumbing, and electrical, which may be original or nearing the end of their service life.
5. How does this lot size compare to a new subdivision?
At over 5,000 sqft, this lot is significantly larger than many modern suburban lots. It offers a rare combination in mature neighbourhoods: a single-level home with substantial outdoor space for gardening, play, or entertaining, without the maintenance of a two-storey.