Property Overview & Key Characteristics
This is a classic 1935-built, one-storey home in Varsity View, sitting on a generous 5,384 sqft lot. Its core appeal lies in its established neighbourhood setting and the significant potential offered by its large lot and unfinished basement. With 803 sqft of living space and a detached garage, it presents itself as a practical, no-frills property.
The home’s primary draw is likely for value-conscious buyers looking for a solid foundation to build upon. It suits first-time buyers comfortable with a project, or investors seeking a rental property with future development upside (subject to zoning). Its rankings indicate it’s a smaller, older home relative to its immediate area, which is reflected in its accessible price point. The recent sale history shows steady appreciation, suggesting a stable investment in a sought-after location. A thoughtful perspective is that this property trades modern finishes for lot size and location—a strategic choice for those prioritizing land and long-term potential over immediate move-in condition.
Frequently Asked Questions
1. What does the "unfinished basement" mean for me?
It provides a blank canvas for future expansion, such as creating additional living space, a rental suite (subject to permits), or ample storage. However, it requires a significant investment to finish.
2. The home ranks as older and smaller than many in the area. Is this a concern?
Not necessarily. This is characteristic of many original homes in established neighbourhoods. It explains the relatively lower assessment value and represents the entry point into a desirable community, with the lot itself being a key asset.
3. Who is the typical buyer for this property?
It’s well-suited for a first-time homebuyer with renovation or expansion plans, or a practical investor. It’s less suited for those seeking a large, modern, or low-maintenance home ready for immediate occupancy.
4. How stable is the property’s value?
The recorded sales in 2017 and 2021 show consistent value growth, indicating a stable market in this location. The assessment value is currently slightly above the last sale price, which is common in active markets.
5. What are the less obvious costs or considerations?
As a 91-year-old home, buyers should budget for ongoing maintenance and potential updates to major aging systems (like plumbing or wiring). While the lot is large, any future expansion or garage upgrade would be an additional project cost.