Property Overview
This 2022-built bi-level home at 1-340 Chalmers Avenue presents a distinct profile. Its primary appeal lies in being a modern, low-maintenance residence in an established neighbourhood. The home features a renovated basement and a functional 1,012 sqft living space that is average for its immediate area. The standout characteristic is its new construction; it ranks in the top 1% for year built both on its street and in the broader Chalmers area, where the average home was built in the early 1900s. This means the buyer inherits none of the major system updates or structural concerns typical of the neighbourhood. Conversely, the lot is compact at 2,534 sqft, which is notably smaller than most properties nearby. This combination suits a specific buyer: someone seeking the peace of mind and efficiency of a new build within a mature community, who prioritizes a modern home over a large yard. It’s ideal for first-time homeowners, downsizers, or investors looking for a newer property with a renovated basement suite potential, all within a modest budget frame indicated by its assessed and recent sale value.
Frequently Asked Questions
1. Is the home really new in such an old neighbourhood?
Yes. Built in 2022, it is a clear outlier. On Chalmers Avenue, where the average home was built in 1938, this property ranks #1 for being newest. You benefit from modern building codes, materials, and energy efficiency.
2. The lot seems small. What does that mean for me?
The land area is in the bottom 3% on the street. This translates to minimal yard maintenance, which is a plus for those seeking a lock-and-leave lifestyle. However, it limits outdoor space for gardening, play, or expansion, and offers less privacy than larger lots in the area.
3. How does the assessed value compare?
Its assessed value is in the top 3% for the street, reflecting its new construction. While this suggests a higher value than most neighbouring homes, it's important to note that the actual sale price from 2022 was also well above area averages, confirming the market premium for a new build here.
4. What is the neighbourhood context?
You are moving into a long-established community. The immediate neighbouring properties are almost all over a century old. This offers mature trees and character, but your home’s modern aesthetic will be a contrast. The compact lot size is also atypical for the street.
5. Who would this property not suit?
It may not be the best fit for buyers who want a large, private yard, who prefer the character and architectural details of a historic home, or who plan on significant additions. The value here is in the building itself, not the land.