Property Overview: 105 Harvard Avenue, Crescentwood
Key Characteristics & Appeal
This is a substantial, century-old home (built 1905) on an exceptionally large lot in the desirable Crescentwood neighbourhood. Its primary appeal lies in the combination of generous space and prime location. The nearly 3,000 sqft of living area is significantly above average, offering ample room for a growing family or those who value spacious interiors. The true standout, however, is the 11,626 sqft lot, which places it in the top tier of property sizes both locally and city-wide, presenting rare potential for gardens, expansion, or future redevelopment.
The home suits two distinct types of buyers. The first is a purchaser looking for a long-term family home in a prestigious area, who values character and space and is prepared for the updates a 121-year-old property will likely require (the basement is noted as unrenovated). The second is a value-conscious investor or builder who recognizes the exceptional underlying land value. With an assessed value that is modest relative to the lot size, the property represents a significant opportunity based on its land alone, making it a potential candidate for a thoughtful renovation or a future custom build.
Frequently Asked Questions
1. Why is there such a large difference between the recent sale price and the assessed value?
This typically indicates a sale under unique circumstances, such as a non-arms-length transaction between family members, or a sale of the property "as-is" with specific conditions. It does not reflect the current market value, which would be closer to or above the assessed value.
2. What does the "unrenovated" basement imply?
It suggests the basement retains its original or older state, likely with foundational stone or block walls, low ceilings, and basic finishes. While it provides functional space and storage, it represents a clear opportunity for modernization and added living area for a future owner.
3. How does the age of the home affect maintenance?
Built in 1905, the home will have vintage charm but requires proactive upkeep. Buyers should budget for and expect updates to major systems like plumbing, electrical, and heating, and should prioritize a thorough inspection to understand the condition of the roof, foundation, and windows.
4. Is the large lot size a benefit for future expansion?
Absolutely. The lot is the property's most elite feature. It provides privacy, space for outdoor living, and, subject to local zoning bylaws, the potential for significant additions, a coach house, or even subdivision, offering flexibility that is rare in established neighbourhoods.
5. Who is responsible for verifying the property's rankings and comparisons?
The rankings provided are useful for context, but they are generated from available assessment data. A buyer's agent should conduct their own comparative market analysis using recent sales of similar properties to establish a fair market value for negotiation.