Property Overview & Appeal
This 1951-built, one-storey home in Varsity View sits on a generous 5,380 sqft lot and offers 1,057 sqft of living space with a finished basement. Its key appeal lies in a combination of established neighborhood character and tangible value. The home recently sold for $380,000 (January 2024), a significant increase from its 2019 sale price, indicating strong market interest and potential for appreciation.
The property suits first-time buyers or downsizers looking for a manageable, single-level layout in a mature area. Its above-average lot size for the neighborhood is a standout feature, offering rare potential for expansion, gardening, or outdoor living that is hard to find in newer subdivisions. While its rankings show it's not the largest or newest on the block, it presents a grounded opportunity: a home in a desirable location where value has been demonstrated through recent market activity, perfect for someone willing to live in and gradually update a solid, character-filled property.
Key Questions for Consideration
1. What does the "finished basement" entail?
Given the home's era and size, it's important to clarify the finish level, ceiling height, and whether it includes a proper secondary living space, additional bedroom, or just recreational areas.
2. How does the lot size and shape impact future plans?
The lot is larger than many in the area. Understanding its dimensions and any easements is crucial for anyone considering future additions, a garage upgrade, or landscaping projects.
3. What are the underlying reasons for the sharp value increase?
The jump from the 2019 sale price to the 2024 price is notable. While market-wide increases are a factor, inquiring about specific upgrades, systems replacements (roof, plumbing, electrical), or unique attributes that drove this appreciation is wise.
4. How does the "one storey" design affect living and utility costs?
Bungalows can offer excellent accessibility and layout flow but may have a different heating/cooling efficiency profile and roof maintenance cost compared to two-storey homes of similar square footage.
5. What is the feel of the street and immediate neighbors?
The property ranks in the middle of the pack for its street on several metrics. Visiting at different times can reveal the neighborhood's rhythm, parking availability, and whether the streetscape is consistent with well-maintained, long-term homes.