Property Summary: 86 Norlorne Drive
Section 1: Key Characteristics & Appeal
This is a well-maintained, single-storey home built in 1979, situated on a generous 5,499 sqft lot in the Betsworth area. Its key features include a fully finished basement and a practical 1,040 sqft of living space. The home’s primary appeal lies in its solid foundation and established neighbourhood setting, offering a move-in-ready opportunity without the premium of a newly built property.
The property’s competitive rankings reveal a nuanced position: while its lot size and age are above average for its immediate area, its living space and assessed value are more modest in comparison. This creates a specific value proposition. It would suit first-time buyers seeking a manageable, single-level layout, downsizers looking for a low-maintenance yard without sacrificing outdoor space, or value-focused investors attracted by the finished basement’s potential for supplemental income or a mortgage helper. Its true appeal is for the pragmatic buyer who prioritizes a functional layout and a sizable lot in a mature community over modern square footage or high-end finishes.
Section 2: Frequently Asked Questions
1. What is the significance of the property rankings?
The rankings show how this home compares to others in specific categories. For example, its lot size ranks highly locally, meaning you get more outdoor space than most neighbours. Conversely, its living area ranking is lower, indicating the interior is more compact than many area homes.
2. Is the finished basement included in the 1,040 sqft living area?
Typically, the listed "居住面积" (Living Area) refers to above-grade square footage. The finished basement is an additional space, adding valuable functional rooms without increasing the official living area figure.
3. There’s no garage. Is there parking or potential to build one?
The listing notes no garage. Buyers should investigate the driveway capacity and local bylaws to understand the potential for adding a parking structure or carport in the future, given the large lot size may allow for it.
4. The home is 47 years old. What should I be mindful of?
While the home has been maintained, its age means crucial systems like the roof, windows, plumbing, and electrical may be original or nearing the end of their service life. A thorough inspection is essential to budget for any upcoming updates.
5. How does the assessed value relate to the listing price?
The assessed value of $344,000 is for municipal tax purposes and is not a market valuation. It can, however, provide a benchmark. A listing price significantly higher suggests the seller sees market value in updates or potential; a price near or below it may indicate a motivated seller or a value opportunity.