Property Overview & Appeal
This 1956-built bungalow in Munroe East presents a specific value proposition centered on land and location. At 911 sqft, the living space is modest and below average for its immediate street and the wider city, indicating a home that may require updates or efficient use of space. However, its key characteristic is a generous 6,406 sqft lot, which ranks in the top 6% within the Munroe East area, offering significant outdoor space uncommon for the neighbourhood.
The appeal lies in this land potential and a below-average assessed value, suggesting an accessible entry point into the market. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who sees value in the lot size over the current home's footprint. This buyer is likely prepared for the maintenance or modernization typical of a 70-year-old home and views the property as a long-term base for renovations, expansions, or simply enjoying a larger yard.
Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. The assessed value is close to the neighbourhood average and is used for tax purposes, not market value. The recent sold price range (2022) was significantly higher, indicating market demand. The lower assessment can mean relatively lower property taxes.
2. How does the lot size compare practically?
While it's the smallest lot on Wynten Crescent, it is notably larger than most in Munroe East and above the city average. This offers more privacy, yard space, and potential for additions, a garden, or outdoor living compared to many nearby properties.
3. What does the "below average" living area mean for daily life?
At 911 sqft, the home is compact. It likely has two or three small bedrooms and one bathroom. It will suit those comfortable with cozy, efficient spaces or those planning an expansion. The trade-off for the larger lot is a smaller house.
4. The home is 70 years old. What should I be prepared for?
While the systems and structure should be professionally inspected, its age is actually above average for its street, meaning it's one of the older homes in that specific row. Be prepared for potential updates to wiring, plumbing, windows, and insulation common for its era.
5. Why is the city-wide average assessed value so much higher?
The city-wide average of $390k includes a vast range of property types, sizes, and affluent areas. This property's assessment aligns with its specific neighbourhood and older, more modest home profile, providing a more realistic local comparison.