Property Overview & Key Characteristics
This 1935-built, one-storey home in Varsity View is defined by its generous 8,074 sqft lot, a standout feature that places it in the top tier of properties locally. The house itself offers 1,346 sqft of living space. Its primary appeal lies in the rare combination of a large, established lot in a mature, central neighbourhood, offering significant space and privacy that is hard to find closer to the city core. The property ranks highly for lot size but is an older home, which presents a classic trade-off: the value is in the land and location, with the house itself offering potential for updates or expansion.
This home would perfectly suit a buyer who prioritizes outdoor space and location over a modern, turn-key interior. It’s ideal for someone with a vision for gardening, future additions, or who simply values a large private yard. It also suits a practical buyer who understands the value proposition of a central lot and is prepared for the maintenance or gradual renovation that comes with a character home of this age.
Frequently Asked Questions
1. What does the high ranking for lot size but lower ranking for age really mean?
It highlights the property's core dynamic: you are primarily investing in a large, desirable piece of land in a great location. The house, while livable, is a 91-year-old structure that will likely require ongoing maintenance or modernization, which is reflected in its assessment value.
2. Is the "split garage" a detached double garage?
Typically, a "split garage" refers to a single garage structure with two separate doors, often accommodating two vehicles side-by-side. It is likely detached, given the home's age and style, but verification on the ground is recommended.
3. What are the implications of having no basement?
This means all mechanical systems (furnace, water heater) and living space are on the main floor. It can be a benefit for those seeking single-level living or concerned about basement moisture, but it also limits storage and potential for below-ground expansion.
4. The assessed value seems low relative to the lot size. Why?
Municipal assessments primarily reflect the current state and size of the building itself, not the full market potential of the land. The lower assessment is consistent with an older, modest-sized home on a large lot, and property taxes are calculated accordingly.
5. What's less obvious about living on such a large lot in this neighbourhood?
It offers a unique sense of space and tranquility that belies the central location. However, it also means more responsibility for landscaping, snow clearing, and general upkeep. The size also presents a future opportunity not just for you, but for a potential developer, which can underpin the property's long-term value.