227 Bernadine Crescent

Property Overview

This single-storey home at 227 Bernadine Crescent presents a compelling opportunity defined by its substantial lot and solid foundation. Built in 1972, the house itself is modest in size at 946 sqft but sits on a generously sized, nearly 9,000 sqft lot that ranks within the top 5% for the Buchanan neighbourhood. The property features a renovated basement and a detached garage. Its assessed value is notably above average for its immediate street and area, suggesting a premium for its specific location and land size.

The primary appeal lies in its exceptional land-to-building ratio, offering significant outdoor space and future potential in a well-established area. The renovated basement adds immediate functional living space. This property would best suit a buyer looking for a starter home with room to grow, a downsizer wanting manageable indoor space with a large garden, or an investor/developer who recognizes the long-term value of the land itself. A thoughtful perspective is that while the living area is below the city average, this creates a lower property tax base relative to the valuable land asset you're acquiring.

Frequently Asked Questions

1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or rooms. This is a key detail to request from the selling agent, as it could range from basic moisture-proofing and flooring to added bedrooms or a legal suite.

2. Why is the assessed value above average for the street?
The assessed value considers multiple factors, but the most likely reason here is the very large lot size. At 8,994 sqft, the land parcel is significantly larger than most on the street and in the area, which carries a premium.

3. Is the detached garage heated or insulated?
This information is not provided in the listing details. The condition and specifications of the detached garage would be an important point of inquiry for utility and potential workshop or storage use.

4. How does the 2016 sale price relate to the current assessed value?
The home sold for $26,500 in 2016 and now carries a $35,100 assessment. This increase reflects market changes and, crucially, the value added by the basement renovation completed since the last sale.

5. What is the significance of the lot ranking so highly?
Ranking in the top 4-5% for land size locally means you are getting a rare amount of outdoor space for the neighbourhood. This offers privacy, landscaping potential, and future possibilities like an addition, garden suite (subject to zoning), or simply ample recreational space.