Property Overview
This two-storey home on Chester Street in East Elmwood presents a solid, above-average offering for its neighbourhood. Its key appeal lies in its generous proportions, both in living space and land size. With 1,728 sqft of living area, it ranks in the top 10% for size within East Elmwood, providing more room than most local comparables. The lot of over 5,500 sqft is also notably larger than typical for the area, offering valuable outdoor space and potential. A recently renovated basement and a detached garage add practical value. The home suits buyers looking for a spacious, grounded property in a mature neighbourhood without paying a premium for a newer build. It’s particularly well-matched for families or those who value indoor and outdoor room to grow, and for owners who appreciate a home that stands above its immediate peers in key metrics like size and lot dimensions.
Frequently Asked Questions
How does this home compare to others in East Elmwood?
The data shows this property is above average for the neighbourhood in several key areas. Its living space is in the top 10%, and its lot size is in the top 11% of East Elmwood homes, meaning it offers more space than nearly 90% of area properties.
What is the significance of the assessed value versus the recent sale price?
The assessed value is for municipal tax purposes and is often lower than market value. The home sold for $430,000 in June 2023, which provides a concrete, recent benchmark of its market worth, far above its $37,400 assessed value.
Is the renovated basement a legal suite?
The provided details state the basement is renovated but do not specify if it is a legal, rentable suite. This is a critical point to verify with the listing agent or city records, as it impacts value, utility, and regulations.
Given the home was built in 1957, what should I consider?
While the building is of average age for the city, a home from this era may have original components like plumbing, electrical, or windows. The renovated basement is a positive update, but a thorough inspection is advised to understand the condition of the main systems and the scope of any future updates.
How does the detached garage impact the property?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or additional storage without encroaching on living space. On a large lot like this, it also allows for more landscaping or yard-use options compared to an attached structure or driveway parking.