Property Overview & Appeal
This one-storey home on Grassie Boulevard is defined by its exceptionally large, 90,377 sqft lot, placing it in the top tier for land size within its street, neighbourhood, and the entire city. The house itself is a modest 1,125 sqft bungalow built in 1960, featuring a detached garage and an unrenovated basement. Its appeal lies squarely in the rare opportunity for land ownership and future potential. The very low assessed value reflects the current state of the dwelling, making this a property where the land is the primary asset.
It would best suit a buyer with a vision for the future, such as someone looking for a multi-generational living setup with space to add a secondary dwelling, an investor or builder eyeing redevelopment, or a hobbyist or homesteader desiring extensive outdoor space. It’s a practical choice for those willing to invest in updates over time, trading immediate modern finishes for long-term lot size and privacy that is increasingly hard to find.
Frequently Asked Questions
1. What does the assessed value indicate?
The assessed value of $44,400 is significantly lower than typical area homes, which primarily reflects the age and condition of the existing structure rather than the market value of the property as a whole. The true value is heavily weighted toward the land itself.
2. Is the lot usable as-is, or are there restrictions?
While the lot size is a major feature, prospective buyers should verify zoning bylaws with the city to understand exactly what can be built or placed on the land, such as the potential for a secondary suite, outbuildings, or a future new home.
3. How does the house compare to nearby properties?
The home is older and more modest in size than many in the broader area. Comparable assessed values in other neighbourhoods often point to similar property types: older homes on sizable lots where the land value is a key component.
4. What are the immediate priorities for maintenance or renovation?
Given the year built (1960) and the note of an unrenovated basement, buyers should budget for essential systems updates (like roof, plumbing, electrical) and consider moisture management for the basement. The home presents a blank canvas for improvements.
5. Who might be competing for this property?
Given its unique profile, interest could come from two distinct groups: first-time buyers or downsizers attracted by the lower price point who are comfortable with a project, and developers or land-bank investors specifically targeting large lots for future potential.