Property Overview: 616 Patricia Avenue, Fort Richmond
Key Characteristics & Appeal
This one-storey home in Fort Richmond is defined by a rare and valuable combination: a modest, renovated house on an exceptionally large lot. Built in 1954, the 1,378 sqft dwelling sits on a 12,943 sqft property—a land size that ranks in the top 1-4% of the local area, street, and city. This creates immediate potential for expansion, gardening, or simply enjoying expansive outdoor space. The home itself is above average in size for its immediate street and features a renovated basement.
Its primary appeal lies in this land-to-building ratio. It suits a specific buyer: someone who values space and future potential over a move-in-ready modern footprint. It’s ideal for a growing family seeking room for a future addition, a multi-generational household considering a secondary suite, or a buyer with a vision for extensive landscaping, gardens, or outdoor living. The renovated basement adds functional living space, making it practical for today while the large lot secures options for tomorrow.
Frequently Asked Questions
1. Is the large lot size a common feature in this neighborhood?
No. The property’s lot is approximately double the average size for Fort Richmond and ranks in the elite top 4% of the area, making it a standout feature.
2. The home was built in 1954. What should I consider?
While the basement has been renovated, the core structure is 72 years old. A thorough inspection is essential to understand the condition of major aging components like the roof, foundation, and plumbing, which should be factored into planning and budgeting.
3. How does the assessed value relate to the likely selling price?
The assessed value is for taxation purposes and is often lower than market value. Recent sold price data from 2023 suggests a market value in a similar range, but current conditions will ultimately determine the price.
4. What are the implications of the one-storey design?
This layout offers excellent accessibility and single-level living, which can be a long-term advantage. However, it means all primary living spaces are on one floor, so the lot size offers the main opportunity to increase overall square footage.
5. The sold price history shows a significant increase between 2017 and 2023. What does this indicate?
It reflects strong market appreciation over that six-year period, likely bolstered by the home’s renovations and, most significantly, its substantial and desirable lot. This trend highlights the property’s value growth potential.