Property Overview: 250 Laxdal Road
This Varsity View home presents a unique blend of established neighborhood character and generous space. Its primary appeal lies in its exceptionally large, approximately 13,585 sqft lot—a rarity within the city that offers immense potential for gardening, recreation, or future expansion. The property features a fully finished basement, an in-ground pool, and a one-storey layout with over 1,600 sqft of living space. Built in 1953, it is a home for those who value established, tree-lined communities over new construction.
The home suits buyers looking for a long-term family base in a prestigious academic-area neighborhood, where the land itself is a significant asset. It's ideal for someone comfortable with the maintenance and character of a 70-year-old home, who sees the value in outdoor space and the possibility to customize over time. The recent sale above the assessed value indicates a competitive market perception of its worth.
Frequently Asked Questions
1. What does the lot size actually mean for me?
Beyond a large backyard, a lot of this scale (over a quarter-acre) in Varsity View is uncommon. It provides notable privacy, space for additions like a garage or workshop, and a sense of openness rarely found so close to the university.
2. The house was built in 1953. What should I be prepared for?
While updated systems exist, the core structure is from the 1950s. Prospective buyers should budget for ongoing maintenance typical of a home this age and consider an inspection focused on the foundation, original plumbing, and electrical systems to understand any needed updates.
3. How does the in-ground pool impact value and cost?
The pool is a major lifestyle amenity for summer use but requires annual opening/closing, maintenance, and insurance considerations. It adds to the property's recreational appeal but also to its operational costs and responsibility.
4. The rankings show the lot size is top-tier, but the building is older. How does this balance out?
This is the key dynamic of this property. You are primarily investing in the land and location within a top neighborhood. The house, while livable, may require modernization. The value is skewed toward the enduring asset—the land—rather than the structure itself.
5. Why did it sell for more than its assessed value?
The assessed value is for taxation purposes and often lags behind market sentiment. The premium price likely reflects high demand for large lots in prime neighborhoods, the pool amenity, and the fully finished living space, which the market valued higher than the municipal assessment.