Property Overview
This one-storey home at 3 Prescot Road in Fort Richmond is a practical and grounded offering. Built in 1973, its key appeal lies in its generous 7,677 sqft lot, which is notably larger than most in the area, city, and on its own street. The living space is a modest 1,162 sqft, which is below average for Prescot Road but aligns more closely with broader area and city averages. The home features an attached garage and a renovated basement. Its assessed value is consistent with local norms. This isn’t a flashy property, but it presents a solid value proposition centered on land size and location.
Who It Suits
This home is ideal for a first-time buyer or a downsizer looking for a manageable single-level layout in a well-established neighbourhood. The large lot is a significant asset for anyone with gardening ambitions, pets, or who simply values extra outdoor space and potential. It would also suit a pragmatic buyer who prioritizes a renovated basement and attached garage over having above-average square footage in the main living area.
Frequently Asked Questions
Is the large lot a benefit or a burden?
It’s primarily a benefit, offering rare space for recreation, gardening, or future expansion like a shed or deck. However, buyers should consider the associated maintenance (lawn care, snow clearing) which requires more time or equipment.
How does the below-average living area feel in practice?
At 1,162 sqft, the home is compact. The renovated basement effectively adds usable space, making the overall footprint more functional. It’s well-suited for individuals, couples, or a small family comfortable with efficient living.
The home sold in 2017 and 2022. Is that a concern?
The recent turnover isn’t inherently negative. It suggests the property has been a viable and marketable home. Reviewing the sold price history (available by request) can provide insight into its market stability.
What does "around average" for assessed value really mean?
It means the city’s valuation is typical for similar homes in Fort Richmond. This generally indicates a stable property tax outlook without unexpected highs or lows, but it’s not a direct predictor of market selling price.
What are the less obvious pros and cons of this specific location on Prescot Road?
A less obvious pro is that being on a road (vs. a crescent or court) often means simpler access and efficient snow clearing routes. A potential con is that it may experience slightly more through traffic than a quieter side street, though data on this isn’t provided.