Property Overview & Key Characteristics
This two-storey home in Meadowood offers a practical and well-maintained living space. Its key appeal lies in a combination of above-average living space for the area and a recently renovated basement, adding valuable finished square footage. With 1,231 sqft of living area, it ranks in the top tier for size on its street and within the neighbourhood. The home sits on a good-sized 3,001 sqft lot and, being built in 1986, is newer than most houses in the immediate vicinity. A notable point is that its current assessed value is closely aligned with its last sale price from 2021, suggesting stable market recognition.
The property would suit first-time buyers or downsizers looking for a move-in ready home with modernized lower-level space, without the premium price of a brand-new build. Its practical layout and established location also make it a sensible choice for investors seeking a stable rental property in a mature neighbourhood. A less obvious perspective is its potential for buyers who prioritize interior space over garage parking, as the property does not include a garage.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
At 3,001 sqft, the land area is larger than over half the lots on the same street, offering decent outdoor space for a mature neighbourhood.
2. Is the basement renovation reflected in the assessed value?
The assessed value is currently very close to the 2021 sale price. While renovations can add value, official assessments often lag behind recent upgrades, so the renovation may represent added value not fully captured in the tax assessment.
3. What does the "newer than most" ranking mean for maintenance?
Built in 1986, the home is newer than approximately 86% of houses on its street. This can suggest major components like the roof or windows may have more recent updates or longer remaining lifespans than older peers, but specific inspections are still essential.
4. How does the living space compare to nearby reference properties?
At 1,231 sqft, it offers significantly more living area than several listed comparable homes in the $30k-$40k assessed value range, which often fall between 737-1,070 sqft.
5. Is the lack of a garage a common feature for homes like this?
While some comparable properties do have garages, many in this price and assessment range do not. The value proposition here is directed more toward interior living space and the renovated basement rather than covered parking.