Property Overview
This well-situated 1978 one-storey home in River Park South presents a practical and comfortable living opportunity. Its key appeal lies in a balance of a generous, established lot and a recently renovated basement, offering immediate livability and future potential. The 920 sqft bungalow sits on a 3,079 sqft lot that ranks in the top 5% for size within the neighbourhood, providing valuable outdoor space that is increasingly rare in newer developments. While the living area is modest, the renovated basement adds functional space. The home’s assessed value sits comfortably in the middle range for its street but ranks in the top 17% for the neighbourhood, suggesting a solid value proposition for the area.
This property would suit first-time buyers seeking a manageable, single-level layout in a mature community, or downsizers looking for a low-maintenance home with a good private yard. It also appeals to value-oriented buyers who appreciate a home with one major renovation (the basement) already completed, allowing them to focus on personalizing the main living areas over time.
Frequently Asked Questions
Is the lot size a significant advantage?
Yes. The lot is larger than 95% of those in the wider neighbourhood. This offers more privacy, gardening space, and play area than typical, and provides a tangible asset that is difficult to replicate in newer subdivisions.
How does the age of the home affect things?
Built in 1978, major components like the roof, windows, and furnace are likely at or beyond their typical lifespan. A thorough inspection is crucial, but the home's age also means it's located in an established area with mature trees and settled infrastructure.
The living area seems smaller than nearby homes. Is it cramped?
At 920 sqft, the main floor is compact. However, the renovated basement effectively doubles the usable living space, making the overall footprint more comparable to the neighbourhood average. The layout and flow of the main floor will be key.
There's no garage. Is that a major drawback?
For some buyers, yes. It means relying on street parking or adding a structure later. However, the large lot does provide the space to build a garage or shed if desired, which is an option not always available on smaller lots.
The assessed value is higher than some similar-sized homes nearby. Why?
The assessed value reflects the municipality's estimate of the property's worth, influenced by the lot size, the renovated basement, and overall market trends in River Park South. It ranks well within its immediate area, suggesting the features are aligned with local valuations.