Property Overview: 706 Henderson Highway
Key Characteristics & Appeal
This is a classic one-storey home built in 1923, situated on a standard-sized lot just over 5,000 sqft. With 1,066 sqft of living space and a renovated basement, it offers a practical layout. A detached garage provides additional storage or parking. Its assessed value is notably lower than many area averages, which is a defining characteristic.
The appeal lies in its position as a straightforward, lower-value entry point into the established Kildonan Drive neighborhood. It suits a specific buyer: someone seeking affordability and simplicity over modern size or finishes. This could be a first-time homebuyer, an investor, or someone looking to downsize with a manageable property. The renovated basement adds functional living space, a key update for a home of this age. A less obvious perspective is that its lower assessment, combined with its age, may present a clear-value renovation or expansion project for a buyer willing to invest sweat equity, with the potential to significantly increase the home’s value relative to the initial purchase price.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is significantly below the average for both the local area and the city. This typically indicates a more affordable entry price but can also reflect the home’s age, size, and condition relative to newer or renovated properties nearby.
2. How does the home’s age affect things?
Built in 1923, the home is among the older in the area. Buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and ensure a thorough inspection. However, this age also often comes with character and established, mature landscaping.
3. Is the lot size a pro or a con?
At just over 5,000 sqft, the lot is around the citywide average. It provides a decent backyard space without being overly large to maintain. It’s not an expansive lot, but it is proportionate to the size of the home.
4. The home last sold in August 2023. What does that mean?
A recent sale suggests the current market price is well-established. For a buyer, it provides a very recent and relevant price comparison, but it also means any potential equity gain from market appreciation may be limited in the short term.
5. What’s it like living on Henderson Highway?
As a major arterial road, expect consistent traffic noise. The trade-off is excellent direct access to transit and city amenities. Convenience is a key factor here over quiet, secluded living.