Property Overview
This 1960-built, one-storey home on a generous 5,937 sqft lot in Pulberry presents a straightforward opportunity. Its key appeal lies in its substantial and private lot size, which ranks well above average for its street and neighbourhood. With a living area of 1,003 sqft and an unrenovated basement, the house itself is a functional canvas. The current assessed value of $32,500 is notably low, reflecting the home's original condition and creating a lower entry point for the area. This property would suit a practical buyer looking for land value and the freedom to customize over time, an investor considering the lot's potential, or a first-time purchaser comfortable with a home that needs updating. Its recent sale history shows a quick turnover, suggesting it’s seen as a value proposition by previous owners.
Common Questions
What does the lot size ranking actually mean?
The "Top 58%" ranking for lot size on its street means this property's lot is larger than 58% of the other lots on Weaver Bay. In practical terms, it offers more outdoor space and privacy than many direct neighbours.
Is the low assessed value a concern?
Not necessarily. It primarily reflects the home's original, unrenovated state for tax purposes. It can represent a lower annual property tax burden and indicates the purchase price is largely for the land and location, with the house itself having renovation potential.
How significant is the unrenovated basement?
It's a major factor. It means significant finishing work is needed to make it a comfortable living space, representing both a future cost and an opportunity to add value and customize to a new owner's needs.
The home sold recently in 2022. Why is it back on the market?
While the specific reason isn't listed, the 2022 sale price of $39,900 was close to the current assessed value. This pattern can sometimes indicate a quick investment purchase or a change in plans by the owner, rather than an issue with the property itself.
How does this home compare to the nearby "worth viewing" properties?
The comparable listing at 95 Parkville Drive has a similar assessed value but offers more living space. This highlights a trade-off: 15 Weaver Bay provides a larger lot, while other options in the price range may offer more immediate living space or updates.