Property Overview & Key Characteristics
This well-situated one-storey home on a large, 6,598 sqft lot in Rossmere-B offers a blend of established neighbourhood charm and practical updates. Its key appeal lies in its generous land size, which ranks in the top 5% on its street, providing ample outdoor space and potential. The home itself features a renovated basement, adding valuable finished living area to the 1,076 sqft main floor. Built in 1956, it is a solidly older home in a mature area, reflected in its assessed value.
The property would suit first-time buyers or downsizers looking for a manageable single-level layout with room to grow outdoors, or investors attracted by the substantial lot size in a stable neighbourhood. A thoughtful perspective is that while the living area is average for the area, the lot size is a standout feature that may not be replicated in newer subdivisions. The recent sale price from August 2023 suggests a market value that acknowledges these characteristics.
Frequently Asked Questions
1. How does the lot size compare to typical properties today?
At nearly 6,600 sqft, the lot is significantly larger than those found in many modern developments. This is a prime feature, offering superior outdoor space, privacy, and future potential.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point for a viewing to understand the quality and functionality of the added space.
3. The home is 70 years old. What should I consider?
While the basement has been updated, the core systems (like plumbing, electrical, and the foundation) of a 1956 home will be original or aged. A thorough inspection is essential to budget for any necessary updates or maintenance.
4. The assessed value is notably lower than the 2023 sale price. Why?
Municipal assessed value for tax purposes often lags behind current market values and is calculated using a different methodology. The recent sale price is a more accurate reflection of its market worth.
5. How does this home fit within its immediate neighbourhood?
The data shows it sits on a street with mostly older homes, but its lot size ranks very high locally. This suggests it's a established, stable area where this property holds a relative advantage in terms of land.