Property Overview
This one-storey home at 615 Campbell Street in Central River Heights presents a straightforward opportunity centered on land and location. Built in 1953, its key appeal lies in its above-average 6,000 sqft lot, which ranks within the top 22% for the desirable Central River Heights neighbourhood. The living space is a modest 1,114 sqft, and the home features a renovated basement. It recently sold for $48,700.
The property’s primary draw is its generous lot in a well-regarded, central area. It suits a specific buyer: someone looking for a footprint in a prime neighbourhood, with plans to either extensively renovate the existing structure or eventually rebuild. It’s also a practical entry point into River Heights for those comfortable with a smaller, older home that has a renovated lower level. The appeal isn't in move-in-ready luxury, but in the underlying value of the land and the potential it holds.
Frequently Asked Questions
1. Why is the sale price significantly different from the city-wide average assessed value shown?
The "city-wide average" figure of $390k listed alongside the assessed value is a benchmark for comparison, not a direct assessment of this property. This home's assessed value is approximately $41.70k, and it sold for $48.70k, which is consistent with its specific characteristics and the local market for homes of this type and size.
2. What does the "above average" lot ranking mean for me?
It means the land itself is a standout feature. In Central River Heights, this lot is larger than 78% of comparable properties. This offers more outdoor space, potential for additions, landscaping, or future development compared to most lots in the area.
3. Who is this property most suitable for?
It's best suited for buyers whose priority is securing land in a prime neighbourhood. This includes renovators, builders, or investors with a long-term view. It may also appeal to minimalist buyers or small households seeking an affordable entry into River Heights, who value space outside more than expansive interior square footage.
4. The home was built in 1953. What should I consider?
While the basement is noted as renovated, a home of this age will likely require attention to major aging components. A thorough inspection of the roof, foundation, plumbing, and electrical systems is essential to understand the scope of any needed updates beyond cosmetic changes.
5. There's no garage. How does that impact the property?
The lack of a garage is a practical consideration for vehicle storage, especially in winter. However, on a large lot, there is potential to add a garage or a parking pad, subject to local zoning regulations. This is a factor to weigh against the lot's overall size and potential.