Property Overview & Appeal
This 1970s one-storey home in Varsity View sits on a large, 6,454 sqft lot, offering a rare combination of space and established neighborhood character. Its key appeal lies in its generous, private yard—a significant asset in a central area—and a finished basement that adds functional living space to the 1,080 sqft main floor. The home’s current assessed value ranks highly within its immediate area, suggesting it is perceived as a solid asset.
It would suit a practical buyer looking for a low-maintenance, single-level layout, possibly a downsizer or a young family valuing outdoor space over a large interior footprint. The property also presents a clear value-adding opportunity for a buyer willing to modernize a well-located, structurally sound home on a prime lot. A less obvious perspective is its potential for gentle expansion or garden-focused living, given the lot size, without the immediate pressure of a major rebuild.
Frequently Asked Questions
1. How does the finished basement impact the living space?
It provides additional flexible rooms, such as a family den, home office, or guest space, effectively increasing the usable area beyond the main floor's square footage.
2. What does the high assessment value ranking mean?
The home is assessed in the top 17% of its street and top 28% city-wide, indicating that official property valuation views it favorably compared to many nearby homes, which can be a positive signal for equity.
3. Is the lack of a garage a significant drawback?
While off-street parking isn't provided, the very large lot offers potential for adding a garage or carport, subject to city permits—a key point for buyers who see the land as a long-term asset.
4. The home is over 50 years old. What should I consider?
While systems and the roof may be due for updates, the 1970s construction often features solid fundamentals. A thorough inspection is essential to prioritize any necessary mechanical, electrical, or envelope upgrades.
5. How stable is the property's value based on its history?
The 2017 purchase price was $397,000, and the current assessment is $438,000. This indicates steady appreciation, but as with any market, future value will depend on broader conditions and any improvements made.