Property Overview
This 1970 bi-level home at 51 St. Dunstan's Bay in Fort Richmond presents a specific value proposition. Its key appeal lies in being a more affordable entry point into a well-established neighbourhood. With 933 sqft of living space, the house is notably compact compared to most on its street and in the area, which is reflected in its below-average assessed value of $380k. However, it sits on a decent-sized, above-average citywide lot of 6,382 sqft. The home features a renovated basement and an attached garage.
This property would suit first-time buyers or downsizers seeking minimal upkeep and lower property taxes, who prioritize location and land size over interior square footage. It’s a practical choice for those comfortable with a smaller footprint, possibly looking to use the renovated basement as flexible living space. A less obvious angle is its potential for a future expansion, where the value is in the land and the established neighbourhood rather than the current structure.
Frequently Asked Questions
1. Is this house significantly smaller than others in the area?
Yes. At 933 sqft, the living area ranks in the bottom 3% on its own street and bottom 8% in Fort Richmond, making it one of the more compact homes available in the neighbourhood.
2. How does the assessed value compare?
The $380k assessment is below average for the street and Fort Richmond, but is close to the average for the entire city. This suggests you are paying primarily for the location and lot, with the house itself contributing less to the valuation.
3. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the details. A buyer should inquire about the scope, permits, and the nature of the renovation (e.g., finished living space, updated utilities, or moisture management).
4. Is the lot size a redeeming feature?
While average for the street, the 6,382 sqft lot is above average compared to the entire city. This provides good outdoor space and is a key asset, especially if the smaller interior is a concern.
5. The home was built in 1970. What should I be aware of?
While newer than many on its street, a 54-year-old home will have aging components. Special attention should be paid to the roof, windows, foundation, and major systems like plumbing and electrical, which may be original or nearing the end of their service life.