Property Overview
This 1912 two-and-a-half storey home on Mcmillan Avenue in Crescentwood offers a classic character home experience with significant potential. Its key appeal lies in its established, tree-lined neighbourhood and a solid, above-average assessed value that suggests good underlying equity. The 1,846 sqft living space is comfortably sized, ranking above average citywide. It features a detached garage and a full, unrenovated basement, presenting a blank canvas for customization.
The property suits two main types of buyers. First, it's ideal for a hands-on buyer or renovator who sees value in the original structure and is prepared to modernize the basement and other areas to their own taste over time. Second, it appeals to those seeking a character home in a desirable area without the premium price of a fully updated property, accepting that some updates will be part of their homeownership journey. A less obvious perspective is the lot size: while the 4,046 sqft land is standard for the street, it is notably smaller than the Crescentwood average. This means lower maintenance but also less private outdoor space compared to many neighbourhood peers, a worthwhile trade-off for some.
Frequently Asked Questions
What does "above average assessed value" in this context mean?
The home's assessed value ranks in the top 14% on its own street and top 20% citywide, indicating the city assesses it as a higher-value property relative to many others. This is a positive marker for underlying value and potential equity, but the sale price will be determined by the market.
Is the unrenovated basement a major concern?
It is a project space. It offers potential for future living space, storage, or utilities, but will require investment to finish. It should be professionally inspected for moisture, foundation integrity, and necessary updates to electrical or plumbing systems.
How does the lot size compare?
The lot is approximately 4,046 sqft. This is typical for Mcmillan Avenue but below the average lot size for the broader Crescentwood area. Buyers should expect a more compact yard compared to many other homes in the neighbourhood.
The home is over 110 years old. What should I consider?
While the structure has proven its durability, a pre-purchase inspection is essential. Focus should be on the foundation, roof, original wiring and plumbing, and the overall envelope for energy efficiency. Heritage charm comes with a responsibility for ongoing maintenance.
Who are the typical neighbours?
The immediate neighbours on Mcmillan Avenue are almost exclusively single-family homes of similar vintage, suggesting a stable, residential streetscape. The "Similar Assessed Value" examples provided are largely from other neighbourhoods, indicating this home offers a Crescentwood address at a value point often found in different areas.