561 Jefferson Avenue

Property Overview: 561 Jefferson Avenue

Section 1: Key Characteristics & Appeal

This one-storey home at 561 Jefferson Avenue is a practical property that stands out for its generous, above-average lot size. With 6,473 sqft of land, the lot ranks in the top 6% on its own street and the top 4% within the broader Jefferson area, offering significant outdoor space that is uncommon for the neighbourhood. The 1,102 sqft living area is comfortably above the local average, and the home features a renovated basement. Built in 1953, it sits among older, well-established homes.

The primary appeal lies in its land value and space. It suits a buyer looking for a solid footprint in Jefferson—perhaps a first-time homeowner, an investor, or someone seeking a manageable single-level layout with clear potential for expansion, gardening, or outdoor enjoyment. The recently renovated basement adds immediate functional living space. Its assessed value is modest compared to the city-wide average, positioning it as an accessible entry point into the market with a lot-size advantage that isn't immediately obvious from the price point alone.

Section 2: Frequently Asked Questions

1. How does the lot size compare to typical properties?
The lot is a key feature. At 6,473 sqft, it is substantially larger than most in the immediate area (ranking in the top 4% in Jefferson), offering more private outdoor space than you might expect for the price.

2. What is the significance of the recent sold price data?
The home sold in early 2024. The sale price range shows a noticeable increase over its 2018 sale, indicating rising value in the period between sales, consistent with broader market trends.

3. Is the assessed value a good indicator of the market price?
Not directly. The assessed value for this property is notably lower than the city-wide average, but it is used for calculating property taxes. The actual sold price from 2024 is a more current and relevant gauge of its market value.

4. What does "renovated basement" typically mean here?
While specifics would require a viewing, this generally indicates the lower level has been updated to provide finished, livable space, adding to the home's functional square footage beyond the main floor.

5. Who would this property not be suitable for?
It may not suit buyers seeking a modern, turn-key home, as the main level retains its 1953 layout. Those requiring attached garage parking or in-ground pool facilities would also need to look elsewhere, as it has neither.