Property Overview
This 818 sqft one-storey home on Alverstone Street in Daniel McIntyre presents a compact, renovated character property. Built in 1909, it sits on a 2,864 sqft lot and features a renovated basement. Its key appeal lies in its recent, significant price appreciation—selling for $300,000 in September 2024, a substantial increase from its 2019 sale price of $22,700—paired with a below-average citywide assessed value of $230,000. This suggests a property that has been substantially updated and is now valued well above its official assessment.
The home is notably smaller than most comparables in the area, ranking in the bottom third for living space on its own street. However, its assessed value is above average for the Daniel McIntyre neighbourhood, indicating perceived quality or improvements. It would suit a first-time buyer, an investor, or someone seeking a lower-maintenance, character home in a central location without a large footprint. Its history points to a strong renovation or market repositioning story, making it interesting for buyers comfortable with a home whose recent sale price diverges significantly from its tax assessment.
Frequently Asked Questions
1. Why is the recent sale price so much higher than the assessed value?
This typically indicates major renovations or improvements not yet reflected in the tax assessment, and/or a strong market demand for turn-key properties in the area. Buyers should investigate what specific updates were made.
2. How does the smaller living area impact daily life and value?
At 818 sqft, the home is compact. This means lower utility costs and less maintenance, but requires efficient use of space. It appeals to minimalist living, but may feel cramped for those needing home offices or multiple living areas.
3. What does the "above average" assessed value for the neighbourhood mean?
While the assessed value is below average citywide, ranking "above average" within Daniel McIntyre itself suggests the property is considered one of the more valuable homes in this specific area, likely due to its renovations and condition.
4. Are there any concerns with a home built in 1909?
While the basement is renovated, the age implies potential for older building materials, electrical, or plumbing systems elsewhere. A thorough inspection is crucial to understand what modernizations have been completed and what might need future attention.
5. The lot size is below average for the street. Is that a major drawback?
The lot is smaller than most on Alverstone Street, which limits expansive outdoor space. However, it is very close to the average lot size for the wider Daniel McIntyre neighbourhood, making it fairly typical for the area and possibly easier to maintain.