492 VERNON AVENUE, Ottawa

$625,000

For sale: Detached

Detached at 492 VERNON AVENUE, Ottawa
Property type
Detached
Bedrooms / bathrooms
5 bedrooms, 1 bathroom
Living area
1,500 sqft
MLS®
MLS® X13812108
Neighbourhood
3503 - Castle Heights

Investor Alert! Welcome to 492 Vernon Avenue on a quiet residential street within walking distance to St. Laurent recreational complex. An exceptional opportunity for investors, developers, or buyers looking to unlock incredible future potential. This estate sale offers a rare chance to acquire a single-family home situated on a generous lot with the opportunity to renovate the existing layout into two one-bedroom basement apartments, creating a triplex opportunity. The upper level has 3 bedrooms and the lower level has 2 one-bedroom apartments ready to renovate with the existing layout. Can also be converted to a family home. Zoning is R3A, R4B. Whether you're looking to expand your investment portfolio, generate rental income, or maximize the property's potential, this is an opportunity you won't want to miss. Ideally located just minutes from downtown Ottawa and close to schools, parks, public transit, shopping, restaurants, hospital and all essential amenities. Property is being sold AS-IS where-is, with no representations or warranties by the Estate.

Sold data

Homes in Ottawa — recent sold market

Homes in Ottawa took a median of 26 days to sell over the last 90 days, with the quickest quarter selling within 14 days and the slowest quarter taking more than 50, across 2,342 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 45 days.

The median sale price was $649,000.

Homes sold for about 2.1% below asking on average, so there was room to negotiate.

About 11% of sales closed above the list price.

Around 22% of sellers reduced their price before finding a buyer.

Median days to sell
26
Median sale price
$649,000
Sale-to-list ratio
97.9%
Sold above asking
11%

Based on 2,342 recorded sales in the last 90 days. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Ottawa

Ottawa has 217 Fraser Institute–rated schools (174 elementary and 43 secondary), averaging 6.2/10.

Rated schools
217
Elementary
174
Secondary
43
Average rating
6.2 / 10

Top-rated schools in Ottawa

  • Hopewell Avenue — elementaryFraser rating 8.5/10
  • Agincourt Road — elementaryFraser rating 8.4/10
  • First Avenue — elementaryFraser rating 8.4/10
  • Nepean — secondaryFraser rating 8.3/10
  • Elmdale — elementaryFraser rating 8.2/10
  • Jean-Robert Gauthier — elementaryFraser rating 8.2/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 492 VERNON AVENUE