1108 5860 Olive Ave, Burnaby, BC, MLS^® R3058068

Welcome to the vibrant community of Burnaby, where lifestyle meets convenience. I'm excited to introduce you to 1108 5860 Olive Avenue, a stunning property listed with MLS^® R3058068. As we explore this beautiful home, let's dive into the aspects that make it truly special.

Education

Chaffey-Burke Elementary School, rated 7.2/10, is just 0.47 km from this property, providing your children with access to quality education. This school is indeed a gem in the Burnaby community. Just down the road, you'll also find Burnaby South Secondary School, with a rating of No Rating, located 2.44 km from this home. For families who value education, this area is a haven. St. Mary's School, an independent elementary school, boasts a 9.4/10 rating and is situated 1.89 km from this home. Deer Lake School, a secondary independent school, is 2.26 km away, offering an alternative education option.

Safety

According to Statistics Canada's 2020 report, the neighbourhood surrounding 1108 5860 Olive Avenue, Burnaby, BC has a relatively low crime rate of 6,145.56 per 100,000 population. This is below average compared to other Canadian cities. The year-over-year change in the total crime rate is a significant -11.13%, indicating a decrease in criminal activity. When it comes to property crimes, the area is considered average, with a rating of 3,691.76. Violent crime rates are also low, at 893.28, making this a safe and secure community to live in.

Demographics

This neighbourhood is home to a diverse population, with 41.1% of residents holding a university certificate or degree, which is high compared to other BC neighbourhoods. In contrast, 8.3% of the population has no certificate or degree, a low number compared to the average in BC. The median household income is $47,531, which is lower than the British Columbia average. However, the median personal income is $23,644, also lower than the BC average. The percentage of households with a mortgage is 38.9%, which is low.

Transit and Commuting

Convenience is at your doorstep with the Eastbound Kingsway @ Olive Ave bus station just 0.09 km away from this property, making public transportation easily accessible. The average commute time in this area is reasonable, with a low percentage of residents using cars. In fact, 49.3% of the population uses public transport, 39.3% use cars, and 9.1% walk, making this a transit-friendly community.

Lifestyle Amenities

Metrotown, a vibrant and lively area, is just a stone's throw away from this property. You'll find plenty of amenities, including parks, beaches, trails, dog parks, shopping malls, grocery stores, restaurants, coffee shops, and hospitals nearby. The area is also a hub for entertainment, with various events and activities throughout the year.

Real Estate Context

The average value of dwellings in this neighbourhood is $523,380, which is above average in British Columbia. The average owner payments are below average, with $1,037 spent on average for the dwelling. Tenants in the area pay $1,255 on average, which is above average. The percentage of renters in the area is high at 66.4%, while 86.3% of residents speak only English, making this a diverse community.

Unemployment and Growth

The unemployment rate in this area is 8.7%, which is average compared to other province neighbourhoods. The population change between 2011 and 2016 was 0.5%, which is average compared to the growth rate of this region. The population density per square kilometre is 13,933.5, which is high. The average size of families in the area is 2.6, which is low.

Tips for Homebuyers

When it comes to finding the perfect home, consider the following:

• If you have children, this area is ideal, with access to quality schools and a safe community.
• If you value convenience, this property is perfect, with easy access to public transportation and amenities.
• If you're looking for a diverse community, this area is a great fit, with a mix of renters and homeowners.

I hope this tour has given you a glimpse into the wonderful community of Burnaby and the amazing property at 1108 5860 Olive Avenue, listed with MLS^® R3058068. Whether you're a first-time homebuyer or a seasoned investor, this property is sure to impress.