Property Overview: 1002 Manhattan Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This two-storey home in East Elmwood presents a compelling blend of space, value, and location. Its primary appeal lies in its generous 1,904 sqft of living area, which ranks in the top 6% of homes on its street and the top 9% within the neighborhood, offering significantly more room than local averages. Built in 1960, it is also a relatively newer home for the area. The property features a detached garage and a full, unrenovated basement, presenting a clean slate for customization.
The home suits two main types of buyers. First, it’s ideal for growing families or those needing ample interior space without a premium lot size, as the land area is more modest. Second, it appeals to value-conscious buyers or those looking for a project; the unrenovated basement and the home’s solid foundational metrics (like its above-average assessed value for the area) suggest potential to add value through updates. A thoughtful perspective is that this property offers "above-average" amenities for its immediate community, which can be a smarter investment than an average home in a more expensive district.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others?
Exceptionally well for the location. With 1,904 sqft, it offers substantially more living space than most homes on Manhattan Avenue and in the wider East Elmwood area, ranking in the top 10% locally.
2. What is the condition of the basement?
The basement is confirmed as unrenovated. This presents both a project and an opportunity, allowing a new owner to finish it to their own specifications and potentially increase the home’s value.
3. What is the property’s recent sales history?
The home sold in September 2022 for $410,000. This recent sale provides a clear, modern benchmark for its market value.
4. Is the lot size typical?
The 4,124 sqft lot is slightly below the average for both the street and the city. The trade-off is that the interior living space is well above average, which may be a preferred balance for many buyers.
5. How does the assessed value relate to the sale price?
The municipal assessed value is $35,700, which is for taxation purposes and typically much lower than market value. The 2022 sale price of $410,000 is the relevant figure for understanding current market value.