Property Overview
This 1910-built, one-storey home on Chalmers Avenue presents a specific and compelling opportunity. Its primary appeal lies in its substantial 5,623 sqft lot, which ranks within the top 4% for size on its own street. This generous outdoor space is a rare find, especially when contrasted with the home's modest 840 sqft living area. The property features a detached garage and an unrenovated basement, pointing to a home that retains its original character and offers a clear canvas for future updates. With a notably low assessed value, it sits well below city-wide averages.
This property would suit a practical buyer looking for a long-term investment in land value, or a hands-on individual or couple eager to customize a home over time. It’s less suited for those seeking immediate move-in condition or larger interior square footage. A thoughtful perspective here is to see the home itself as a solid foundation on a premium lot, where the value proposition shifts from finished living space to potential and land ownership—a chance to shape a property in a well-established neighbourhood.
Frequently Asked Questions
Q: What is the true highlight of this property?
A: The land. The lot size is significantly larger than most in the immediate area, offering exceptional outdoor space for gardens, expansion, or simply privacy—a feature that is increasingly difficult to find.
Q: Is this a move-in ready home?
A: The listing notes an unrenovated basement, and given the home's age and below-average assessed value, buyers should anticipate a project. It is likely best suited for those comfortable with updates and maintenance.
Q: How does the low assessed value impact property taxes?
A: A lower assessed value typically results in lower municipal property taxes compared to similarly sized homes in the city, which can be a meaningful annual saving.
Q: What does the "below average" year built mean for a buyer?
A: Built in 1910, the home will have the charm and solid construction of its era but will also require diligent attention to aging components like wiring, plumbing, and insulation to meet modern standards.
Q: Who would this property not suit?
A: It may not suit buyers needing ample finished living space immediately, as the interior is compact. It's also less ideal for those who prefer a newer, low-maintenance home without renovation projects.