Property Overview: 335 Risbey Crescent
Key Characteristics & Appeal
This single-storey home at 335 Risbey Crescent is defined by its substantial, premium-sized lot. At over 10,600 square feet, the property offers land space that ranks in the top 7% on its own street and the top 2% within the broader Buchanan neighbourhood. This is the home's most standout feature, presenting significant potential for expansion, gardening, or outdoor living. The house itself is a manageable 1,180 sqft bungalow with a renovated basement and a detached garage, built in 1976—newer than most in the immediate area.
The appeal lies in a unique combination: a home with modernized living space on a lot that is increasingly rare to find. It suits practical buyers who value space and potential over sheer square footage of the existing structure. It would be ideal for a growing family seeking room for a future addition, a multi-generational household wanting separate living areas, or a buyer who prioritizes a large, private yard in a well-established area. The above-average rankings for lot size and newer construction year in its local context suggest a property that holds intrinsic, long-term value in its land.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. A viewing or follow-up with the listing agent is necessary to understand the full scope, which could range from updated flooring and paint to a fully developed legal suite or additional bedrooms.
2. How does the large lot size impact costs?
While offering great potential, a larger lot can mean higher property taxes relative to house size, increased maintenance (like lawn care or snow clearing), and potentially higher utility costs for services extending to the detached garage. It's a trade-off for the extra space.
3. The assessed value seems low. Is that the sale price?
No, the assessed value (approximately $35,900) is for municipal tax purposes and is not the market price. The last recorded sale was in 2017 for $30,300. The current market price would be set by the seller based on recent comparable sales and market conditions.
4. What are the implications of the home being built in 1976?
Built during a transition in building codes and materials, a 1976 home may have some modern wiring and plumbing but could also contain original components, like galvanized pipes or single-pane windows, that may need updating. A thorough inspection is recommended.
5. The living area is noted as "around average" city-wide. Is the house small?
At 1,180 sqft, the above-ground living space is modest but functional for a bungalow. The renovated basement effectively doubles the usable space, making the overall footprint more competitive. The value proposition here is the balance of a comfortable home on an exceptionally large parcel of land.