Property Overview
This one-storey home on Manhattan Avenue in East Elmwood presents a practical and value-oriented opportunity. Its key appeal lies in a recently renovated basement, a detached garage, and a lot that provides ample outdoor space for the neighbourhood. At 746 sq ft, the living area is compact but efficiently laid out for a smaller household.
The data reveals a nuanced position. While the home's living space is below average for both the area and the city, its assessed value is notably strong for its immediate street and East Elmwood, suggesting it is well-maintained and perceived as a good asset within its local market. Built in 1957, it is a newer home compared to many on its street. The 4,054 sq ft lot is a standout feature, offering generous room for gardening, play, or expansion relative to many city properties.
This property would suit first-time buyers seeking an entry point with renovation potential, downsizers looking for a manageable single-level layout with a finished basement, or investors interested in a character home with solid lot value in a stable neighbourhood.
Frequently Asked Questions
How does the home's size compare to others?
At 746 sq ft, the living area is cozier than the average home in East Elmwood. It’s efficient for one or two people, but may feel tight for a larger family without utilizing the renovated basement space.
Is the assessed value high for the area?
Yes. The assessed value ranks in the top 26% for East Elmwood, meaning it’s valued higher than most comparable homes nearby. This often reflects recent improvements, like the basement renovation, and solid overall condition.
What are the advantages of the lot size?
The lot is over 4,000 sq ft, which is a significant asset. It provides more private outdoor space than many properties in the city and could allow for future additions like a shed, deck, or even an extension, subject to zoning.
How does the sale history inform the current value?
It last sold in December 2020 for $26,100. The current assessed value is slightly higher at $28,700, indicating stable or slightly appreciating value in line with market trends over the past few years.
What does the "newer" year built mean for this street?
Built in 1957, it’s newer than many homes on Manhattan Avenue. This could mean somewhat more modern construction materials and layouts than its immediate neighbours, though it still carries the character and potential maintenance considerations of a mid-century home.