Property Overview: 1062 Mountain Avenue
Key Characteristics & Appeal
This home is a one-and-a-half storey property built in 1950, situated on a notably large 6,001 sqft lot in the Burrows Central neighbourhood. Its key features include a renovated basement and a detached garage. The primary appeal lies in its land size and location-based value. The lot is substantially larger than most in the immediate area and neighbourhood, placing it in the top 8% on its street and top 4% in Burrows Central. While the living space (888 sqft) is modest, the generous yard offers significant potential for expansion, gardening, or outdoor living.
The home’s assessed value ranks above average for both its street and neighbourhood, suggesting it is viewed as a solid asset within its local market context. It would particularly suit a value-conscious buyer looking for a home with "good bones" and land to grow into, whether that means future renovations, adding a suite, or simply enjoying more private outdoor space than is typically available. It’s a property where the true premium is placed on the land itself, offering a blank canvas for someone willing to invest sweat equity or gradual updates.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the finish quality, layout, and whether it includes a legal suite or additional bedrooms should be verified with the seller or a viewing.
2. How does the lot size compare to a typical city lot?
At 6,001 sqft, this lot is over 70% larger than the average for Burrows Central (~3,491 sqft). It provides a rare amount of yard space for the area.
3. The assessed value seems low. What does this mean?
The assessed value is for municipal tax purposes and is not the market price. Its above-average rank locally indicates the property is considered more valuable than its neighbours, but the final sale price is determined by the market.
4. Is the modest living area a concern?
The 888 sqft living area is compact. However, the renovated basement adds functional space, and the large lot presents a clear opportunity for a future addition, making it a strategic buy for those with longer-term plans.
5. What is the neighbourhood like?
Located in Burrows Central, the property benefits from being on a street where lot sizes are generally above average. For detailed insights on schools, amenities, and community feel, local exploration and neighbourhood-specific research are recommended.