Property Overview & Appeal
This one-storey home on Mighton Avenue is a compact, century-old property that presents a specific value proposition. Its key characteristic is the significant discrepancy between its modest living space (520 sq ft) and its generous, city-wide lot size (3,030 sq ft). While the house itself is smaller than most in the area, it features a renovated basement and a detached garage. The appeal lies in its low assessed value and sale price, indicating an entry-point opportunity in the Chalmers neighbourhood. It particularly suits buyers looking for a land-holding strategy—someone willing to live in a cozy, updated space while holding a parcel with future redevelopment potential. It could also appeal to an investor seeking a straightforward rental property with lower upfront costs, or a minimalist buyer who prioritizes outdoor space over interior square footage. The data suggests it’s a home where the land is the primary asset, with the existing structure serving as a functional starting point.
Frequently Asked Questions
1. Is this a tiny home?
While not marketed as such, the 520 sq ft living area is significantly below average, placing it in the bottom tier for size both locally and city-wide. It functions as a compact, efficient footprint.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property’s overall market valuation, which is heavily influenced by the small size and age of the dwelling itself, despite the lot being a substantial asset.
3. What does "renovated basement" mean for a home this size?
A renovated basement in a home of this scale is crucial, as it effectively doubles the usable living space, making the property feel more functional than the main floor square footage alone suggests.
4. Who would this property not suit?
It would likely not suit growing families needing multiple bedrooms, those who prioritize modern, spacious interiors, or anyone uncomfortable with the maintenance considerations of a 100-year-old structure.
5. How does the lot size compare?
The lot is around average for the immediate street and Chalmers area, but is considered below average when compared to the entire city. This highlights the neighbourhood’s more modest, established lot sizes versus newer suburban developments.