Updated 3-Bed Bungalow with Finished Basement near St. Patrick High

Property details for 734 Franklin Street S, Thunder Bay

Type: Residential
Style: Bungalow
Bedrooms: 3
Bathrooms: 2
Living Area: 700 square feet
Lot Size: 33 x 124 FT
Stories: 1
Basement: Finished, Full
Parking: Garage
Heating: Forced air, Natural gas
Ownership: Freehold
Annual Taxes: $3,057

This 1943 bungalow packs a lot into 700 square feet, but the real draw is the finished basement. You've got a modern kitchen with stainless appliances (dishwasher included) and a main floor that flows open to the dining area. Upstairs, you'll find the primary bedroom and a laundry room, so you don't have to haul clothes down. But head to the basement and there's a massive rec room (19.5 feet long) plus two proper bedrooms. That's 3 beds total, with 2 full baths. Everything's been updated recently, including the roof and furnace, and there's central air for the hot days. The yard is fully fenced with a deck off the kitchen, ideal for summer BBQs. You park in the detached single garage or the paved driveway out front. Location? You're 0.3 km from Saint Patrick High School, 1.5 km from the Thunder Bay Museum, and about 2 km from Boston Pizza. The price sits at $379,900, which is just above the nearby median of $364,900, but homes here are selling in about two weeks, so it's a hot market. Close to bus routes and everything you need, the location scores 87 out of 10. The septic system might be a surprise, but it's part of the deal. This one's priced to move.

About 734 Franklin Street S, Thunder Bay — Property Score

Prime Location

Score: 58/100

Value

Priced 31% above area median of $289,900 based on 13 comparable properties nearby 24

$543/sqft - 66.6% above the $326/sqft area median 1

Stable pricing - no price changes since original listing date 50

Size

700 sqft - 37% less space than similarly priced homes (1,106 sqft median) 30

3 bedrooms - typical for similarly priced homes 60

2 bathrooms - typical for similarly priced properties 60

Location

$64K median household income - near the Canadian average of $70K 62

85% of residents hold postsecondary credentials - a highly educated neighbourhood 92

72% homeownership rate - indicating a stable, owner-occupied community 80

87% of residents commute under 30 minutes - excellent commuter accessibility 100

2,852/km² population density - a well-balanced suburban area 99

Market

Just listed - area average is 11 days on market 82

+2.7% median price change over 1 month - stable pricing in the area 64

11.8 months of housing supply - 59 active listings with 5 sold last month (buyer's market) 40

Features

Finished, Full basement - adds valuable living space 85

efficient gas forced air heating 80

Air Conditioned 60

Built in 1943 (83 years old) - established home with character, older than the area average (1957) 35

No premium extras like pool, waterfront, or view 50

Investment

0.8% effective tax rate ($3,057/yr) - below the Canadian average of ~1% 76

26% renter population - primarily owner-occupied area 61

Quality

Condition

Listing

15 photos provided - below the area average of 32 photos 85

5 of 7 key property details provided (71%) - good detail coverage 76

* This property score is an approximate estimate based on publicly available data, nearby comparable listings, and automated analysis. Scores are for informational purposes only and should not be relied upon as professional appraisals or investment advice. Actual property values may vary. We recommend consulting a licensed real estate professional for accurate assessments.