Property Overview & Key Characteristics
This one-storey home on Winterton Avenue in Chalmers is a compact, character property built in 1922. Its primary appeal lies in its balance of a decent-sized lot (just under 3,000 sq ft) and a recently renovated basement, offering potential for additional living space or income. The detached garage adds practical storage or workshop space. While the 660 sq ft living area is modest, the home sits on a lot that is larger than many in the immediate area, providing valuable outdoor space for its footprint.
This property would suit a first-time buyer, an investor, or someone looking to downsize into a manageable home with renovation potential. Its below-average assessed value suggests an accessible entry point into the market. A thoughtful perspective is that while the house itself is small, its lot size is proportionally generous for the neighbourhood, offering a rare opportunity for expansion, gardening, or simply more private outdoor space than typical for the price point. It’s a property where the land and the renovated basement may hold more value than the main floor square footage.
Frequently Asked Questions
1. Is the house too small for a couple or small family?
At 660 sq ft, the main living area is compact. However, the renovated basement effectively doubles the usable space, making it more functional for a couple or a very small family, depending on the basement's layout and finishes.
2. How does the assessed value compare to the likely sale price?
The home last sold for $15.7k in 2017 and is now assessed at $18.7k. It’s important to note that assessed value is for municipal tax purposes and is typically below market value. The sale price will be determined by current market conditions.
3. What does the "below average" ranking for living area mean?
The rankings show this home's living area is smaller than 80% of similar homes on its street, 87% in Chalmers, and 98% citywide. This clearly indicates a smaller-than-typical main floor, highlighting the importance of the basement and lot to the property's overall utility.
4. Are older homes like this a concern?
Built in 1922, the home will likely require ongoing maintenance and updates. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation, which is a standard consideration for any century-old property.
5. What is the potential for future expansion or renovation?
The lot size is a key asset here. At nearly 3,000 sq ft, it is proportionally large for the small house, potentially allowing for a future addition, subject to local zoning and permit approvals. The renovated basement also suggests some modernization work has already begun.