Property Overview
This bi-level home at 2 Russenholt Street presents a specific and compelling value proposition. Built in 1973, it sits on a well-sized lot that is above average for its immediate street. The home’s key updated feature is its renovated basement, adding functional living space. It is important to note the living area is modest compared to local averages, positioning this as a more efficient footprint. The detached garage offers flexible storage or workshop potential. Its appeal lies in being an affordable entry point into the Buchanan neighbourhood, particularly for those who prioritize land size and a renovated lower level over a large main-floor footprint. It would suit first-time buyers, investors, or downsizers looking for manageable upkeep without sacrificing outdoor space, and who see potential in a home where the foundational renovation work on the basement is already complete.
Key Details & Questions
What are the specifics of the lot and living space?
The property sits on a 5,298 sqft lot, which is notably larger than many on the same street. The living area is 924 sqft, which is compact, but the presence of a renovated basement significantly increases the usable space.
How does its value compare to the area?
The home last sold in 2019 for $250k. Its assessed value is consistently below average for its immediate street but aligns more closely with wider neighbourhood and city averages, suggesting it is priced accessibly within its micro-market.
What does the "below average" living area ranking mean practically?
This indicates the above-ground square footage is modest. Buyers should expect efficient, well-utilized rooms rather than sprawling spaces. The renovated basement is therefore a crucial asset for adding functionality.
Who might this property not suit?
It may not be ideal for those requiring extensive main-floor living space or multiple large bedrooms on one level. The bi-level layout and smaller main footprint require a practical approach to space.
Is the 1973 build date a concern?
The data shows this home is among the newest on its street. While systems like roof, windows, and heating will be age-related, its newer build date relative to immediate comparables can be an advantage over much older inventory in the city.