Property Overview & Key Characteristics
This 1907 one-storey home in St. Matthews offers a blend of historic charm and practical potential. Its key appeal lies in its generous 2,486 sqft lot, which ranks within the top 16% on its street, providing ample outdoor space in a central neighbourhood. The 1,284 sqft living area is comfortably above average for the immediate area. A notable characteristic is the home's very low municipal assessed value, which is in the top 10% on its street, suggesting significant potential for added value through updates. The property includes a detached garage and an unrenovated basement, presenting a clear canvas for customization.
It would suit a value-conscious buyer looking for a project—someone who sees opportunity in a structurally sound, century-old home on a large lot and is prepared to modernize the interior and basement over time. It's also a practical entry point into a well-established neighbourhood for those prioritizing land size and location over move-in-ready finishes.
Frequently Asked Questions
1. What does the low assessed value indicate?
A low assessed value relative to similar properties often reflects the home's original condition and unrenovated state. It can be an opportunity, as renovations and updates typically increase both market and assessed value, but it's essential to budget for those improvements.
2. Is the large lot size a benefit in this neighbourhood?
Absolutely. Ranking in the top 16% for lot size on the street is a significant asset in an older, central neighbourhood. It provides rare space for gardening, expansion, outdoor living, or future additions, subject to zoning bylaws.
3. What should I consider with a 1907-built home?
While offering character, a home of this age requires a thorough inspection. Focus on the foundation, roof, wiring, plumbing, and insulation. The unrenovated state means systems may be original or outdated, so renovation costs should be factored into your offer.
4. How does the living area compare to nearby homes?
At 1,284 sqft, the living space is larger than 76% of homes on the street, offering more interior room than many comparable properties. The listed "reference" homes show similar vintage homes often have living areas between 1,120 and 1,757 sqft.
5. What is the context for the "For reference" and "Worth viewing" properties listed?
These are nearby properties with similar assessed values or from the same neighbourhood, provided for market comparison. They help illustrate the range of home sizes, values, and conditions in St. Matthews, giving you a benchmark for this listing's price and potential.