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1817 Mickelberry Cres
Ottawa, ON

1817 Mickelberry Cres

$914,900
4 bd • 3 ba • sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$914,900

Price/Sq.Ft

$914900

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property in Orleans, Ottawa, offers several attractive features. The 4-bedroom, 3-bathroom layout is spacious and well-suited for families, with the average 4-bedroom rental rate in Ottawa at $2,470/month suggesting strong rental potential. The home boasts high-end finishes including granite counters, solid wood cabinetry, and stainless steel appliances, which typically command a 5-10% premium in resale value. The double car garage is a significant asset, as only 68% of Ottawa homes have this feature. The unspoiled basement provides potential for additional living space, which could add 20-30% more usable square footage. The property's location in Orleans, known for its family-friendly atmosphere and good schools, aligns well with Ottawa's median household income of $88,609, suggesting a good fit for the target market.

The Bad

The listing price of $914,900 is approximately 22% above Ottawa's average home price of $750,000, which may limit the pool of potential buyers. The exact square footage is unknown, making it difficult to assess the price per square foot and compare it directly to market averages. The property's age is not specified, which raises concerns about potential hidden maintenance issues or outdated systems. The basement is currently unfinished, which means additional investment would be required to maximize the home's potential. Orleans, while family-friendly, is located about 22 km east of downtown Ottawa, which may be a drawback for commuters working in the city center.

The Ugly

Ottawa's real estate market has shown signs of cooling, with prices decreasing by 5.6% year-over-year as of May 2023. This trend could impact future appreciation potential. The property's location in Orleans may be affected by the city's ongoing LRT expansion, which could cause short-term disruptions but potentially increase property values in the long term. Ottawa's winters are harsh, with average January temperatures of -10°C, which could lead to higher heating costs and potential weather-related maintenance issues. The listing mentions "some photos virtually staged," which raises questions about the actual current condition of certain areas of the home.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for families with a household income of $150,000+ annually, based on the 32% front-end ratio for the $914,900 price point. It's ideal for those prioritizing space and modern amenities, particularly families with 2-3 children who can utilize the multiple bedrooms and potential basement space. Government employees or those with stable, long-term employment in Ottawa would be well-suited, given the property's price point and Ottawa's government-centric job market. The home would also appeal to those who value a suburban lifestyle with proximity to nature, as Orleans offers numerous parks and green spaces.

Not For

This property is not suitable for first-time homebuyers or those with household incomes below $150,000 due to its high price point. It's not ideal for singles or couples without children, as the space may be excessive for their needs. Investors looking for high rental yields might find the price point challenging, as the potential rental income may not justify the purchase price. Those prioritizing a short commute to downtown Ottawa or seeking a more urban lifestyle would find the Orleans location less appealing. Buyers looking for a move-in ready home with a finished basement may need to look elsewhere or be prepared for additional renovation costs.
Demographics
Area Median Income

$88,609

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Risk Assessment

Risk Analysis

The cooling Ottawa real estate market poses a risk of short-term depreciation, with the potential for the property value to decrease by 5-10% in the next 1-2 years based on current trends. The unfinished basement could require a significant investment of $30,000-$50,000 to complete, impacting the overall cost of ownership. Ottawa's climate presents risks of weather-related damage, particularly to the roof and foundation, with potential repair costs ranging from $5,000-$20,000. The ongoing LRT expansion in Ottawa could lead to temporary disruptions in the Orleans area, potentially affecting quality of life and short-term property values. The listing's lack of information on the home's age and exact square footage raises concerns about potential hidden issues or inflated pricing.

Financials

Monthly Costs

Location & Comparables

Subject Property
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