Property Overview
This 1944 one-and-a-half storey home on a 4,060 sqft lot presents a straightforward, value-oriented opportunity. Its key appeal lies in its practical lot size, which is notably larger than many on its street, offering more outdoor space than typical for the immediate area. With 980 sqft of living space, the house itself is compact and manageable, and its assessed value positions it as an accessible entry point into the market. The detached garage adds practical utility.
This property would suit a first-time buyer, an investor looking for a rental property, or someone seeking a modest, low-maintenance home without a large mortgage. Its above-average lot for the street could appeal to those with future expansion in mind, provided they are prepared for the updates a home of this age will likely require. It’s a home for pragmatic buyers who prioritize land potential and location over turn-key condition or modern square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property’s specific characteristics—its age, size, and neighbourhood—not city-wide luxury averages. It indicates a more affordable tax base and purchase price, which is typical for solid, older homes in established neighbourhoods.
2. How does the lot size compare to nearby properties?
The lot is a standout feature. At 4,060 sqft, it ranks in the top 24% on Pritchard Avenue, meaning it’s larger than most direct neighbours. This provides more private outdoor space than is common for the street.
3. What should I consider about the home’s age and condition?
Built in 1944, the home is older than most in the broader Burrows-Keewatin area. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation, and to budget for any necessary updates or maintenance.
4. Who might this property not be suitable for?
It may not suit buyers looking for a modern, move-in-ready home with ample interior space or those desiring a brand-new neighbourhood. The compact living area and need for potential updates require a buyer comfortable with a project or a modest footprint.
5. The last sale was in 2018 for $15,800. What does that indicate?
That sale price, significantly below the current assessed value, is a historical data point. It often indicates a prior sale between family members, a land trust transaction, or a sale "as-is" for renovation. It does not reflect current market value, which is better gauged by recent comparable sales and the current assessment.