Property Overview: 654 Waverley Street, Central River Heights
Key Characteristics & Appeal
This 1957 one-storey home sits on an exceptionally large, 8,318 sqft lot in the desirable Central River Heights neighborhood. Its land size is a standout feature, ranking in the top 5% of lots on Waverley Street and the top 1% within the entire neighborhood, offering rare potential for expansion, gardening, or outdoor living. The 1,906 sqft living area is comfortably above average for the area, and the home includes a renovated basement and a detached garage.
The primary appeal lies in its land value and location. It’s a property where the lot itself represents a significant portion of the value, appealing to those who see potential in the space itself rather than just the existing structure. It would suit a buyer looking for a solid home in a prime area with the vision to update or expand over time, or an investor who recognizes the long-term value of land in a central, established community. The recent sale price suggests it may present an opportunity to add value relative to its assessed worth.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing notes the basement is renovated, but specific details on the finish, ceiling height, permits, or moisture control are not provided. This would be a key area for inspection and inquiry.
2. How does the sale price compare to the assessed value?
The home recently sold for $48.50k, which is notably below its $58.70k assessed value. This can sometimes indicate a as-is sale or a motivated seller, but it's important to understand the specific conditions of the recent sale.
3. Is the large lot usable as-is, or are there restrictions?
While the lot size is a major asset, it's wise to check for any easements, right-of-ways, or zoning bylaws (like heritage designations) that might affect how the land can be used or built upon.
4. How does the 1957 build date affect the home?
The year built is newer than many area homes, which can be positive. However, a home of this age will likely have original or aging core components, like plumbing, electrical, and the roof, which should be carefully evaluated.
5. What is the parking situation?
The property has a detached garage. It’s important to verify its size, condition, and access, and to confirm if there is additional dedicated parking on the large lot.