Property Overview: 147 West Gate, Armstrong Point
Key Characteristics, Appeal & Ideal Buyer
This is a substantial, historic home in the established Armstrong Point neighbourhood. Its primary appeal lies in its impressive scale, generous lot size, and prime location. With over 6,100 sq ft of living space on a 10,366 sq ft lot, it offers rare interior volume and outdoor potential for the area. The home is a 1910 two-and-a-half storey with a renovated basement and a detached garage, fitting the classic architectural profile of the neighbourhood.
The appeal is multifaceted. For those seeking space, it ranks in the top 3% of its neighbourhood and street for living area. Its lot size is also well above average. While the 1910 build date requires consideration for maintenance, it places the home among the older, more character-rich properties in the city—a point of charm for the right buyer. The recent sale in May 2024 suggests a market-tested transaction. A thoughtful perspective is that the assessed value is notably lower than the home’s physical scale might suggest, which can present an opportunity in terms of property tax base relative to usable space, but also warrants due diligence on the property's condition and modernization needs.
This property would best suit a buyer who values historic character and space over turn-key modernity. It’s ideal for a large family needing room to grow, someone looking for a project to restore a heritage home to its full potential, or a buyer for whom a large, private lot in a central, prestigious neighbourhood is the top priority.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing notes the basement has been renovated, but specifics on finish quality, ceiling height, moisture control, and legal egress are not provided. This would be a key area for inspection and inquiry to understand its true functionality as living space.
2. How does the recent sale price compare to the assessed value?
The home sold for $58,500 in May 2024, which is significantly below its current $64,600 assessed value. This discrepancy is important to explore; it may relate to sale conditions, the property's state at the time, or market fluctuations, and should be clarified with a real estate professional.
3. What are the implications of a 1910 build date?
While rich in character, a home of this age requires careful attention to foundational integrity, plumbing, electrical systems, insulation, and windows. Potential buyers should budget for ongoing maintenance and potential upgrades, while also appreciating the architectural details seldom found in newer homes.
4. The lot is large, but how is it configured?
At over 10,000 sq ft, the lot offers excellent outdoor space. Understanding its shape, orientation, sun exposure, and any mature tree locations (which can be both an asset and a consideration) will help assess its suitability for gardening, recreation, or future expansion.
5. The detached garage: what are its specifications?
The listing confirms a detached garage but does not state its size, condition, or potential for heating/electrical service. For a neighbourhood of this caliber, whether it can accommodate modern vehicles or serve as a workshop is a practical consideration.