Property Overview & Key Characteristics
This 1,080 sqft condo at 1-576 Jessie Avenue in Earl Grey presents a modern, low-maintenance living option in a well-established neighbourhood. Its primary appeal lies in its combination of new construction and strong comparative value. Built in 2020, it is newer than over 95% of comparable properties in the area, suggesting modern building standards and minimal immediate repair concerns. The renovated basement adds functional space.
The home’s metrics show a thoughtful balance: its living space is comfortably above average for Earl Grey, while its assessed value ranks in the top tier for the neighbourhood, indicating it is perceived as a premium property within this market. This positions it as a turn-key home that offers the ease of condo living without the typical compromise on space or neighbourhood character. It would suit first-time buyers seeking a modern home without the upkeep of a century-old house, downsizers looking for a spacious yet manageable property, or investors attracted by a newer asset in a stable, central area like Earl Grey.
Frequently Asked Questions
1. What does the "above average" assessed value mean for property taxes?
A higher assessed value generally leads to higher property taxes compared to older homes in the area. However, it also reflects the property's newer condition and premium standing, which can be a trade-off for reduced maintenance costs.
2. How does condo ownership work here?
The listing is for a condo, meaning you own the unit and a share of common elements. It's essential to review the condo corporation's status certificate for details on fees, rules, reserve fund health, and what maintenance is covered.
3. The home sold in 2020; what does that history imply?
The sale in late 2020 at $34,100, close to the current assessed value of $37,500, suggests a stable value history. It may indicate the original purchase was at a competitive price point for a newly built unit.
4. Is the living space practical for the layout?
At 1,080 sqft, the home is spacious for a condo. The inclusion of a renovated basement likely provides flexible space for storage, a home office, or recreational use, making the floor plan efficient.
5. What is the immediate neighbourhood like?
Being on Jessie Avenue, you are in a quiet, residential part of Earl Grey. The proximity to other similar-style homes (as seen in nearby addresses) suggests a consistent streetscape, while the wider neighbourhood offers mature trees and classic character.