Property Overview & Appeal
This one-storey home at 840 Garwood Avenue in Earl Grey is a classic, renovated character property built in 1942. Its key characteristics include a 954 sqft living area, a fully renovated basement, and a detached garage on a standard 3,438 sqft lot. The home’s assessed value is notably strong for its immediate area, ranking in the top third on its own street.
The appeal lies in its move-in readiness due to the basement renovation, combined with the charm and convenience of the established Earl Grey neighbourhood. It represents a practical, grounded opportunity in a desirable area without the premium price of a larger or newer home. It would suit first-time buyers seeking character in a mature neighbourhood, downsizers looking for a manageable single-level layout with updated spaces, or pragmatic investors attracted by the solid assessment value and the street’s consistent appeal.
A less obvious perspective is that this home offers a balance of vintage charm and modern function without being a top-to-bottom project, allowing owners to enjoy the neighbourhood immediately. Additionally, its assessed value performance suggests it is viewed as a solid asset within its local market context, which can be a stabilizing factor.
Frequently Asked Questions
1. How does the living space compare to other homes in the area?
At 954 sqft, the living area is slightly below the average for both the Earl Grey neighbourhood and the city overall, but is quite typical for Garwood Avenue itself. This indicates a comfortable, efficient footprint that is standard for many character homes on the street.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated, but specifics on finishes, ceiling height, legal compliance, and access should be verified with the seller or listing agent to understand its full functionality and potential uses.
3. Is the assessed value a reliable indicator of the likely sale price?
The assessed value of $332,000 is a strong benchmark for municipal taxation. Notably, it ranks well above the median on Garwood Avenue. However, market conditions, the home’s updated condition, and buyer demand will ultimately determine the sale price, which may differ.
4. What are the implications of the detached garage?
A detached garage offers valuable storage or workshop space and can reduce noise transfer into the home. Considerations include its condition, the walk to the house in winter, and whether the driveway allows for convenient parking.
5. The home was built in 1942. What should I be aware of?
While the basement has been renovated, a home of this age may have original elements like wiring, plumbing, or windows that could require attention or updating. A thorough home inspection is essential to understand the condition of these core systems and the structure itself.