Property Overview & Key Characteristics
This 1913 two-storey home on Cambridge Street in Central River Heights offers a classic character footprint with modernized essentials. Its primary appeal lies in its generous, nearly 4,800 sqft lot—a notable size for the neighbourhood—paired with a recently renovated basement, adding valuable finished living space to the 1,344 sqft main home. The detached garage provides additional storage or workshop potential.
The home suits practical-minded buyers who value lot size and outdoor space over a large interior, and who appreciate the charm of an older home without wanting to tackle a major basement renovation. It’s a compelling option for those looking to enter the established Central River Heights area, potentially offering a relative value compared to neighbouring properties, as suggested by its below-average assessed value for the specific street and neighbourhood.
A less obvious perspective is that this property represents a specific trade-off: you are acquiring land and location in a desirable area, but the living space is modest and the home itself is among the oldest on the block. This makes it a strategic purchase for a long-term holder who might envision future expansions or updates, rather than someone seeking a move-in-ready, maximized interior.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. At 4,798 sqft, the lot is larger than many in Central River Heights. This provides more private outdoor space, gardening potential, and distance from neighbours compared to typical area properties.
2. What does "below average" for Year Built mean for a buyer?
Built in 1913, the home is notably older than most in its immediate vicinity. This typically implies classic construction and character, but buyers should be diligent about inspections for foundational integrity, wiring, and plumbing common to homes of this era.
3. How is the assessed value both below average and around average?
The assessed value ($320k) is below the average for both Cambridge Street and the Central River Heights neighbourhood, which can indicate a relative value opportunity. City-wide, it sits around the average, highlighting that you are paying a premium for the location, not the size or newness of the structure.
4. The living area is listed as "around average." Is the space well-utilized?
At 1,344 sqft across two storeys, the living space is standard for the market. The renovated basement effectively increases the usable square footage, making the overall living potential greater than the main floor area suggests.
5. Who would this property not suit?
It may not suit buyers seeking a modern, open-concept layout without renovation work, or those who prioritize a large interior footprint over yard space. The older age of the home also means it likely requires a higher tolerance for maintenance and potential updates compared to a newer build.