Property Overview
This one-storey home at 744 Pasadena Avenue in Fort Richmond presents a practical opportunity in a well-established neighbourhood. Built in 1967, the 955 sqft house sits on a notably generous 7,277 sqft lot, which is larger than most city-wide and area averages. The home features a renovated basement and a detached garage. While the living space is modest compared to many local and city homes, its assessed value is consistently around the average for its immediate street and broader area. The property last sold in mid-2017.
Key Characteristics & Appeal
The primary appeal of this property lies in its land value and location. The lot size is a significant asset, offering ample outdoor space and future potential in a mature neighbourhood. The renovated basement adds functional living space. With an assessed value that is unexceptional for the area, it represents a grounded, no-frills entry point into the Fort Richmond community.
It would best suit a buyer with a vision for the property's potential, whether that means utilizing the large yard for gardening or family play, or seeing the value in the land itself for long-term investment. It’s also a practical fit for first-time buyers or downsizers seeking a manageable single-level layout with the bonus of a updated basement, without the premium price tag of a larger or newer home. A less obvious perspective is that a modestly-sized home on a large lot can offer a favourable ratio of property taxes to usable outdoor space, which is becoming rarer in the city.
Frequently Asked Questions
1. Is the house small for the neighbourhood?
Yes, at 955 sqft, the living area is below the average for both Pasadena Avenue and the wider Fort Richmond area. The value proposition here shifts more toward the land.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope or finish. This would require clarification during a viewing or from the seller directly.
3. How does the large lot size impact the property?
The lot is well above the city-wide average. This provides more private outdoor space and could offer future opportunities, but may also mean more maintenance.
4. The assessed value seems low compared to the last sold price. Why?
The assessed value (approximately $40k) is for taxation purposes and is not an indicator of market value. The home last sold in 2017 for between $315k and $345k, which is a more relevant historical market reference.
5. Are the nearby "worth viewing" properties good comparisons?
They are in the same neighbourhood but differ in key aspects like living area and assessed value. They provide general context for the area but are not direct apples-to-apples comparisons for this specific home's size and lot combination.