Property Overview
This one-and-a-half storey home on Talbot Avenue in East Elmwood presents a straightforward, entry-level opportunity. Built in 1910, it offers 908 sqft of living space with an unfinished basement and sits on a 3,006 sqft lot. The home has not been renovated, and there is no garage. Its most recent sale was in 2018 for $147,000, and its current assessed value is $19,400.
Key Characteristics & Appeal
The primary appeal of this property lies in its affordability and its position as a potential starter home or investment property in a long-established neighbourhood. While its living space is modest and its lot size is below average for the immediate area, it ranks more competitively on Talbot Avenue itself, suggesting it fits the local streetscape. The home suits buyers comfortable with a project, whether that means living with an unfinished basement for storage or planning gradual updates. Its age (1910) means it has character and solid construction, but also implies that systems may need attention. A thoughtful perspective is that its very low assessed value, while indicating it’s priced below most of the city, could represent a lower property tax burden—a key factor for budget-conscious owners. It’s best suited for first-time buyers seeking a foothold, hands-on investors looking for a rental property, or those who prioritize location and lot ownership over modern finishes.
Frequently Asked Questions
1. What does the assessed value tell me about the property?
At $19,400, the assessed value is significantly below average for the neighbourhood and city. This typically reflects the home’s age, condition, and modest size, and often correlates with lower municipal property taxes.
2. How does the lot size compare?
The 3,006 sqft lot is below the average for East Elmwood. However, it is more in line with other properties on Talbot Avenue itself, indicating the lot is typical for this specific street.
3. What should I consider given the home’s age?
Built in 1910, the home likely has solid foundational construction. Buyers should budget for potential updates to major aging systems, such as plumbing, electrical, or the roof, and consider an inspection a priority.
4. The basement is noted as “not renovated.” What does that mean?
This indicates the basement is unfinished. It provides valuable utility space and storage, but is not configured as livable space like a rec room or bedroom.
5. Who would this property not suit?
It may not suit buyers seeking a move-in-ready home with modern amenities, those needing ample indoor or outdoor space, or anyone unable to manage potential maintenance projects associated with a century-old house.