Property Summary: 613 Alverstone Street
Section 1: Key Characteristics & Appeal
This two-storey home in Daniel McIntyre is distinguished by its generous proportions, both in its 1,840 sqft living space and its 4,700 sqft lot. Built in 1948, it is notably newer than many area homes. A key feature is its renovated basement, adding functional living space. The property's assessed value ranks in the top 2% for the street and neighbourhood, reflecting its premium standing in the local market, though it sits around the city-wide average. Recent sale history shows significant appreciation.
Its appeal lies in offering above-average space and a modernized footprint within a well-established inner-city neighbourhood. It suits buyers looking for a character home with more room to grow than typical area offerings, without requiring a full renovation. The large lot is a standout asset for gardening, outdoor living, or future expansion. It would particularly suit urban-minded families or multi-generational households seeking a balance of community roots and updated living areas, or an investor attracted by a high-performing asset in its immediate locale.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely market value?
While the assessed value is a strong benchmark for municipal taxes, the 2022 sale price of $380k is a more current indicator of market value. The assessed value being in the top 2% locally suggests the property is a high-value asset within Daniel McIntyre.
2. Is the home unusually large for the area?
Yes. With 1,840 sqft of living space, it ranks in the top 9% on its street and top 6% in the neighbourhood, being approximately 650 sqft larger than the area average for comparable homes.
3. What does the lot size mean for potential buyers?
At 4,700 sqft, the lot is in the top 5% on the street. This provides substantial outdoor space rare for inner-city neighbourhoods, offering privacy, recreation space, and potential for additions like a garage, deck, or garden.
4. The home was built in 1948. Is that a concern?
In this context, it's an advantage. It ranks as newer than 93% of comparable homes in Daniel McIntyre, meaning major systems like plumbing and electrical may be from a more modern era than many neighbouring heritage properties, potentially reducing some maintenance concerns.
5. How stable is the property's value?
The sale history indicates robust growth, rising from $290k in 2020 to $380k in 2022. Its consistent elite ranking for assessed value within the neighbourhood suggests it has maintained a premium position locally, which can be a buffer against market fluctuations.