Property Overview & Key Characteristics
This 1938-built, one-storey home in Varsity View offers a classic, no-fuss living arrangement on a generously sized lot. Its primary appeal lies in its location within a well-established, mature neighbourhood and its substantial 8,076 sqft property—a rarity that provides ample outdoor space and future potential. With 740 sqft of living space and no basement, it presents a straightforward, manageable footprint ideal for downsizers, first-time buyers comfortable with cosmetic updates, or investors seeking a land-value opportunity. The home's rankings highlight a compelling contrast: while the interior space and age are modest compared to local averages, the lot size is exceptionally competitive, placing it in the top 15% of its street and top 11% city-wide. This positions the property as a solid, long-term hold in a desirable area, suited for someone who values location and land over immediate modern finishes.
Frequently Asked Questions
1. What does "no basement" mean for storage and mechanical systems?
The home's utilities, heating, and any storage will be contained within the main floor footprint. Buyers should inquire about the location and age of the furnace and hot water tank, as these will be in a closet or utility room rather than a traditional basement.
2. The house ranks very low for size and age locally. Is this a concern?
These rankings reflect the home's original, compact character compared to newer or expanded neighbours. They underscore that the value proposition here is the land and location. For the right buyer, this represents an affordable entry into a sought-after neighbourhood with the lot size offering future options.
3. How does the assessed value relate to the likely selling price?
The $270,000 assessment is a municipal valuation for tax purposes. In a neighbourhood like Varsity View, especially with such a large lot, the market price is often influenced more by buyer demand for location and land potential than by the assessed value or the size of the house itself.
4. Is the large lot a benefit for future expansion?
The 8,076 sqft lot certainly provides the physical space for potential additions, a garden suite (subject to zoning), or extensive landscaping. Any expansion would require consulting with the city on zoning bylaws, heritage considerations (given the home's age), and obtaining the necessary permits.
5. What is the realistic maintenance expectation for a home built in 1938?
Prospective buyers should budget for and prioritize updates to aging core systems. While the structure has stood for decades, essential components like roofing, plumbing, electrical wiring, and insulation may require inspection and investment to meet modern efficiency and safety standards.