Property Summary: 687 Warsaw Avenue
Section 1: Key Characteristics & Appeal
This one-storey home in Earl Grey presents a compelling blend of a mature neighbourhood setting and notable value. Its key appeal lies in its generous 4,819 sqft lot, which is significantly larger than most in the immediate area and offers substantial potential for gardening, expansion, or outdoor living. The home itself, built in 1951, is newer than many of its neighbours, suggesting potentially fewer concerns with aging core systems compared to other area homes. A renovated basement adds functional living space to the 912 sqft main floor.
The property’s assessed value ranks well above average for both the street and Earl Grey, indicating official recognition of its relative worth, yet it remains a modestly sized, manageable home. It would suit first-time buyers or downsizers seeking a established neighbourhood with a larger-than-average yard without the upkeep of a massive house. It’s also a practical candidate for value-conscious buyers who see potential in the land itself, whether for long-term enjoyment or future redevelopment.
Section 2: Frequently Asked Questions
1. Is the living space on the smaller side?
Yes. At 912 sqft, the main living area is below the average for Earl Grey. However, the renovated basement provides additional finished space, and the property’s value is heavily weighted toward its substantial lot size.
2. What does the "above average" assessed value mean?
The home’s assessed value is in the top 20% for Warsaw Avenue and top 15% for Earl Grey. This suggests the property is officially valued higher than most comparable homes nearby, often reflecting its larger lot and newer construction year relative to the area.
3. How does the lot size compare?
The lot is a standout feature. At 4,819 sqft, it ranks in the top 7% for Earl Grey, meaning it’s much larger than most in the neighbourhood. This is a key asset for privacy, outdoor space, or future projects.
4. The home sold recently in 2023. What does that indicate?
The sale in October 2023 for $343,800 provides a very recent, concrete market value benchmark, offering clarity that older listings lack. It establishes a solid price point for the area.
5. Are the homes nearby similar?
The immediate neighbours on Warsaw Avenue are typical of Earl Grey, with older construction dates (many from the early 1900s). This home, built in 1951, is notably newer than the houses directly surrounding it, which can be an advantage.