Property Overview
This unit at 201-575 Stradbrook Avenue is a standout, particularly for its generous space and strong assessed value within its context. Built in 1988, it offers 1,510 sqft of living area, which places it in the top 5% of homes on Stradbrook Avenue and the top 8% within both the Mcmillan neighbourhood and citywide. Its assessed value of $39,100 similarly ranks well above local and city averages. Recent sale history shows consistent value in the $300k–$350k range. The appeal lies in acquiring a spacious, well-positioned unit that outperforms most peers in key metrics, suggesting a solid investment in a desirable area. It would suit buyers looking for above-average space in a multi-unit building, from young professionals seeking room to grow to downsizers who don’t want to compromise on square footage.
Frequently Asked Questions
What does the "top 5%" ranking for living area actually mean?
It means this unit's square footage is larger than 95% of comparable homes on Stradbrook Avenue. This is a significant advantage in an urban setting, where space is often at a premium.
Is the building from 1988 considered old?
While not new, 1988 is newer than the average building in the Mcmillan neighbourhood (avg. 1979) and right around the citywide average (avg. 1990). It represents a period of construction that often balances established neighbourhood character with modern building standards.
The assessed value seems low compared to sale prices. Why?
Municipal assessed value for tax purposes is typically lower than market value and doesn't fluctuate as quickly. The consistent sale prices in the $300k–$350k range are a more accurate reflection of current market value.
Who are the typical neighbours in this building?
The listing shows several other units within the same address (e.g., 101, 102, 202, 303, 304-575 Stradbrook), indicating this is likely a condo or apartment complex. Your immediate neighbours would be other unit owners or tenants within this building.
What are the less obvious benefits of this property's rankings?
High rankings in both living area and assessed value suggest the unit is not just spacious but also likely well-maintained and in a stable or appreciating location. This can provide confidence against market shifts and potentially make financing or resale smoother.