Property Overview
This one-storey home on a 6,000 sqft lot in Central River Heights presents a specific and compelling opportunity. Its key appeal lies in the combination of a generous, above-average lot size for the area with a recently renovated basement, offering a solid foundation for future living space or rental potential. The detached garage adds practical value. With a modestly sized main floor (991 sqft) and an older build date (1956), the property is best viewed as a land play with a liveable structure, rather than a move-in-ready modern home. Its recent sale price was notably accessible.
This home would suit a practical buyer looking for entry into a desirable neighbourhood, willing to invest in updates over time. It’s also a strong candidate for an investor or builder who recognizes the value in the lot size and sees potential in the renovated basement for a suite, with the option to expand or rebuild the main house in the future.
Frequently Asked Questions
Is the lot size a significant advantage?
Yes. At 6,000 sqft, the lot is larger than most in Central River Heights. This provides more outdoor space, better potential for additions, and future redevelopment options that are rare in this mature neighbourhood.
How does the assessed value relate to the sale price?
The home recently sold for $43,500, which is higher than its $35,900 assessed value. This is common, as assessed value for tax purposes often lags behind market value, especially after a renovation like the basement update noted here.
The living area is noted as below average. How livable is it?
At 991 sqft for the main floor, the living space is compact. However, the renovated basement effectively doubles the usable area, making the overall footprint more functional. The main house may require modernization.
What does the "above average" year built ranking mean for a 1956 home?
It means that on Lindsay Street and in Central River Heights, many homes are even older. While the house itself is mature, it’s not among the oldest in the immediate area, which can sometimes be a factor for maintenance or heritage considerations.
Who would this property not suit?
It may not suit buyers seeking a turn-key, modern home with no projects. The main floor likely needs attention, and the appeal is rooted in the property's potential and lot value rather than its current finished condition.