Property Overview: 485 Grassie Boulevard
Key Characteristics & Appeal
This well-situated one-storey home at 485 Grassie Boulevard presents a compelling blend of space, value, and potential. Built in 1985, its key physical attributes include 1,379 sqft of living area and a renovated basement, complemented by both an attached and a detached garage. The standout feature is the generous 12,496 sqft lot, which ranks within the top 5% of the Grassie area and top 3% city-wide, offering exceptional outdoor space and privacy rare for an urban setting.
The home’s appeal lies in its strong value proposition and versatility. With an assessed value significantly above average for its immediate street and above average city-wide, it represents a substantial asset in a stable location. The combination of a renovated basement, dual garages, and an elite-sized lot suggests a property that balances move-in readiness with long-term potential for expansion or landscaping projects. It would particularly suit buyers looking for a single-level living layout with ample yard space for families, gardening, or pets, as well as value-conscious purchasers who recognize the inherent worth of a large lot in a mature neighborhood. The data suggests it’s a property that outperforms many of its peers in terms of land and value, making it a prudent choice for both lifestyle and investment.
Frequently Asked Questions
1. How does the home’s value compare to recent sales?
The property last sold in July 2021 for an estimated range of $535,000 to $565,000. Its current assessed value of $491,000 is notably above the average for homes on Grassie Boulevard, indicating strong perceived value growth relative to its direct neighbors.
2. Is the lot size a major advantage?
Yes. The land area of nearly 12,500 sqft is a defining feature, placing it in the elite tier (top 5%) for the Grassie area. This is significantly larger than the typical city lot and offers uncommon potential for outdoor use, additions, or simply enjoying more private green space.
3. What does "renovated basement" typically include here?
While the listing confirms the basement is renovated, specific finishes and the scope of work are not detailed. This is a key point for discussion with the listing agent to understand the quality, layout, and whether it includes added bedrooms, a legal suite, or simply finished living space.
4. The home is older—should I be concerned about major systems?
Built in 1985, the home is around average age for its street but older than many in the broader Grassie area. Prospective buyers should prioritize a thorough inspection of major systems like the roof, HVAC, plumbing, and electrical, which may be nearing or past their typical lifespans.
5. Why are there two garages, and what condition are they in?
The property benefits from both an attached and a detached garage, offering exceptional storage or workshop space. The condition, size (e.g., single or double), and functionality of each structure should be verified, as this is a valuable but maintenance-bearing feature.