Property Overview & Key Characteristics
This 1968 two-storey home in Rossmere-A offers a practical, no-frills living proposition. Its primary appeal lies in its solid value foundation. With a living area of 1,196 sq ft and a renovated basement, it provides functional space. The lot is a notable asset, at 3,359 sq ft, ranking in the top 9% of the neighbourhood for size, offering excellent outdoor potential. The home’s assessed value of $230k is exceptionally high for its street, suggesting it is viewed as a premium property on its block, which could indicate above-average updates or condition relative to its immediate neighbours.
Its appeal is grounded for buyers seeking an entry point into a stable neighbourhood without a major renovation project, thanks to the updated basement. It would suit a first-time buyer, a downsizer looking for manageable space with a generous yard, or an investor attracted by the value stability indicated by the strong assessment. A less obvious perspective is that the significant gap between its assessed value and those of nearby homes could mean lower property taxes than if the whole street were assessed similarly, but it also sets a high value benchmark for the area.
Frequently Asked Questions
1. What does the "renovated basement" likely include?
While specifics aren't listed, a renovated basement in a home of this era typically means finished living space, possibly with a recreation room, additional storage, and updated flooring and paint. It’s a key functional upgrade that adds liveable square footage.
2. The assessed value seems high for the street. Is that good or bad?
It's a double-edged sword. It suggests municipal assessors view this property as superior in condition, features, or lot value compared to its neighbours, which is positive for owner equity. However, it may also result in a proportionally higher property tax bill than some nearby houses.
3. There's no garage. What are the parking options?
The property has no garage, so parking would be via a driveway (if present) or on-street. Given the large lot size, there is likely space for a driveway and potential to add a garage or carport in the future, subject to local bylaws.
4. How does the living space compare to the neighbourhood?
At 1,196 sq ft, the living area is fairly standard, ranking in the top 75% for the neighbourhood. This indicates it's a comfortably sized home for the area, not the largest, but certainly not the smallest, aligning with its family-friendly profile.
5. The home was built in 1968. What should I be aware of?
While the renovated basement is a plus, a home from this era may still have original major systems like plumbing, electrical, or the roof nearing the end of their service life. A thorough inspection is crucial to understand the condition of these core components.