Property Overview
This 1945 two-storey home on Mcmillan Avenue in Crescentwood presents a distinct blend of established neighbourhood charm and practical updates. Its key appeal lies in its generous 4,496 sqft lot—larger than most on the street—paired with a renovated basement, offering a solid foundation for both comfortable living and future potential. The living space (1,355 sqft) is modest for the area, suggesting a home that is easier to maintain than many of its larger neighbours. Its above-average assessed value for the street indicates a perception of solid worth.
This property would suit a specific buyer: someone seeking an entry point into a desirable, mature neighbourhood like Crescentwood without the footprint or upkeep of a much larger estate home. It’s well-suited for small households, downsizers, or investors looking for a character home with a key renovation already completed. The detached garage and sizable lot are significant assets for those valuing outdoor space or workshop potential.
Frequently Asked Questions
1. How does the lot size compare?
The lot is approximately 4,500 sqft, which is notably larger than the average for Mcmillan Avenue. This is one of the property's standout features, offering more outdoor space than many direct neighbours.
2. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but specifics on finish quality, layout, and whether it includes a legal suite or additional bedrooms should be verified with the seller or listing agent.
3. Is the living area small for the neighbourhood?
Yes. At 1,355 sqft, the home's living area is below the average for both Mcmillan Avenue and the wider Crescentwood area. This suggests a more compact, efficient floor plan.
4. Why is the assessed value higher than the last sale price?
The current assessed value is listed at $43.5k, while it last sold in 2019 for $36.8k. This increase likely reflects market changes and the noted basement renovation. Remember, assessed value is for municipal tax purposes and may differ from market value.
5. What are the less obvious considerations?
A thoughtful point is the home's age (1945). While well-maintained, it is newer than many area homes, which could mean different architectural details or construction materials. Additionally, the combination of a smaller house on a larger lot in a prime area often presents a compelling long-term value proposition, whether for personal enjoyment or future redevelopment.