Property Overview
This one-storey home at 31 Mount Allison Bay in Fort Richmond presents a practical and value-oriented opportunity. Its key appeal lies in a combination of above-average space for its immediate neighborhood and a generous, private lot. With 1,076 sqft of living space and a renovated basement, it offers functional living on a single level. The 8,086 sqft lot is a significant asset, providing ample outdoor space that is well above average for the street, area, and city. Built in 1972, it is one of the newer homes on its block.
The property suits first-time buyers seeking a manageable home with room to grow outdoors, or downsizers looking for a bungalow-style layout without sacrificing yard space. Its assessed value positions it as a more accessible entry into the neighborhood compared to the Fort Richmond average. The lack of a garage is a trade-off for the larger lot, suggesting the home’s strength is in land value and living space rather than built-in vehicle storage.
Frequently Asked Questions
What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, ceiling height, permits, and whether it includes a bathroom or legal secondary suite potential.
How does the lack of a garage affect daily living and property value?
While the lot size offers room for a future garage or shed, current owners rely on driveway parking. This is common for homes of this era in the area and is often reflected in a slightly lower assessed value compared to similar homes with garages.
The home is "above average" for the street but "below average" for Fort Richmond. What does this mean?
This indicates a well-maintained home on a desirable street within a broader neighborhood that includes larger, newer, or more updated properties. It suggests you are buying into a good micro-location where this home stands out positively among its direct neighbors.
Is the sold price history from 2021 relevant today?
The 2021 sale provides a historical benchmark, but market conditions have changed. It's most useful for understanding the property's previous turnover and should be used alongside a current market evaluation to gauge today's value.
What are the implications of such a large lot?
Beyond privacy and space, a lot of this size (over 8,000 sqft) may offer future potential for additions, landscaping projects, or even subdivision, subject to municipal zoning bylaws. It also typically means higher property taxes relative to homes on smaller lots in the same area.