Property Overview
This 4-level split home at 3 Mcmasters Road in Fort Richmond presents a distinct profile. Built in 1965, it offers 1,722 sqft of living space, which is notably above average for its immediate street and the wider neighbourhood. The property sits on a generous 7,147 sqft lot, providing ample outdoor space. A key feature is the renovated basement, adding modernized living area. Notably, the home's assessed value is positioned below average for the local area, which can signal different things to different buyers.
Its appeal lies in its space and lot size for the price point within a mature, established neighbourhood. It suits practical buyers looking for room to grow or customize without the premium of a new build, and who value larger interior and exterior dimensions over a turn-key or recently built home. It may particularly attract value-conscious purchasers, such as families seeking affordability in a university-adjacent community or investors interested in the potential upside of a home with a renovated basement but an assessment that hasn't yet caught up to its physical attributes.
Frequently Asked Questions
What does the "below average" assessed value mean?
A below-average assessment compared to similar homes on the street and in Fort Richmond can indicate a value opportunity, but it's essential to understand why. It may relate to the home's specific condition, updates needed, or simply market timing. It's a starting point for negotiation rather than a definitive price tag.
Is a 4-level split layout practical?
This style offers clear separation of living zones across its levels, which can be great for separating sleeping, living, and recreational areas. However, it involves more stairs than a bungalow or two-storey, which is a consideration for those with mobility concerns or very young children.
The home is older—what should I prioritize in an inspection?
Given its 1965 construction, a thorough inspection of major aging systems is crucial. Focus on the foundation, roof, plumbing, and electrical wiring to understand the home's true condition beyond the renovated basement.
There's no garage. How is parking?
The listing notes no garage. Prospective buyers should verify on-site parking arrangements, such as a driveway, and also review any street parking regulations in the neighbourhood to ensure it meets their needs.
How does the lot size compare?
At over 7,000 sqft, the lot is a significant asset, ranking well above average city-wide. This offers excellent potential for gardening, expansion, or outdoor living, which is a less obvious but valuable perk in mature neighbourhoods where lots are often smaller.