Property Overview
This two-storey home on Oxford Street in Central River Heights presents a practical opportunity in a well-regarded neighbourhood. Built in 1952, its 1,356 sqft of living space is typical for the area, offering a comfortable footprint. A key feature is the renovated basement, which adds valuable finished space. The property sits on a 4,558 sqft lot, which is notably smaller than many others on its street and in Central River Heights, but is closer to the city-wide average. This results in lower maintenance while still providing private outdoor space. A detached garage offers parking or storage.
Its appeal lies in its move-in readiness, thanks to the basement renovation, and its location within a mature, established community. The above-average assessed value suggests the property is well-maintained and positioned desirably within its market segments. It would suit first-time buyers or downsizers looking for a manageable home in a central neighbourhood without the burden of a large yard. It’s also a sensible option for an investor or buyer who values character and location over expansive land size.
Frequently Asked Questions
1. Is the smaller lot size a disadvantage?
It depends on your priorities. While the lot is below average for the immediate area, it means less yard work and lower property tax implications related to land value. For those seeking a low-maintenance outdoor space in a prime location, it can be a benefit.
2. What does the above-average assessed value indicate?
A higher assessed value relative to neighbours often reflects updates, desirable features, or a premium location within the area. For this home, the renovated basement likely contributes significantly, suggesting the core structure and systems have been invested in.
3. The home sold in 2021; is that recent history relevant?
Yes. The 2021 sale provides a concrete market price point from the recent past, offering a useful benchmark to understand how local values have potentially changed. It indicates a relatively recent transaction in the property's history.
4. Who might this home not suit?
Buyers seeking a large garden, extensive outdoor entertaining space, or who prioritize having one of the largest properties on the block might find the lot size limiting. It may also be less ideal for those needing significantly more than three bedrooms, given the living area is average for the city.
5. What’s the significance of the detached garage?
A detached garage provides secure parking and storage, a valuable asset in any neighbourhood. It also offers flexibility; the space can be used as a workshop or studio separate from the main house, which can be a significant perk for hobbyists or those working from home.