Property Overview & Key Characteristics
This one-storey home at 628 Waterloo Street in Central River Heights is a property defined by its land and location. Its primary appeal lies in owning a generous, above-average lot in a central and desirable neighbourhood. The 6,158 sqft property size ranks within the top 18% on its own street and top 14% in Central River Heights, offering significant outdoor space and potential in a mature area. The home itself, built in 1952, is of average size for the area at 1,327 sqft and features a renovated basement and a detached garage.
The property would suit a specific type of buyer: those who value land and location over a large existing footprint. It’s ideal for a long-term investor or an owner-occupant with a vision for expansion, renovation, or enjoying substantial yard space. The above-average assessed value for the neighbourhood suggests the property is already well-regarded in its current state. A thoughtful perspective is that this home represents an opportunity to own a premium-sized lot in a stable area, where the value is anchored more in the land itself than the current structure, appealing to those with future plans.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The land area is significantly larger than most comparable properties on the street and in the wider Central River Heights neighbourhood, ranking in the top 14-18%. This is a key differentiator for gardening, outdoor living, or future additions.
2. How does the home’s size compare to the neighbourhood?
The living area is around the neighbourhood average. The appeal here isn’t a large existing house, but the balance of a decent-sized home on a much larger-than-average lot.
3. What does the assessed value tell us?
Its assessed value ranks above average for both the neighbourhood and city-wide, indicating official recognition of its relative worth, likely due to the lot size, renovated basement, and location.
4. The home was built in 1952. What should I consider?
While the basement is renovated, a home of this age will likely require attention to major aging components, such as the roof, plumbing, electrical, and windows. A thorough inspection is essential.
5. Who are the most likely buyers for this property?
It suits buyers prioritizing location and land over a turnkey, modern layout. This includes renovators, those seeking a large yard in a central area, or investors looking for a property in a high-demand neighbourhood where land is a scarce commodity.