Property Overview: 806 Beach Avenue, East Elmwood
Key Characteristics & Appeal
This is a compact, one-storey home built in 1950, offering a practical footprint of 748 square feet on a standard city lot. Its key updated feature is a renovated basement, adding valuable functional space. The home includes a detached garage. In the context of its immediate Beach Avenue street and East Elmwood neighbourhood, this property is consistently "around average" for assessed value, land size, and age, but its living space is notably smaller than most neighbouring homes. This creates a distinct value proposition: you are purchasing a well-situated property at a very accessible price point, with the work of modernizing the basement already completed.
The appeal lies in its efficiency and opportunity. It suits first-time buyers seeking an entry into the market without a premium price, or practical downsizers looking for a manageable home with modernized basics. It’s a straightforward property where the investment has gone into essential infrastructure (the basement renovation) rather than square footage. A thoughtful perspective is that its smaller size and average lot represent a lower maintenance burden and utility cost, offering a simpler, more sustainable urban living model. It’s a home for those who value location and practicality over sheer space.
Frequently Asked Questions
1. Is the smaller living area a concern?
While the 748 sqft main floor is below average for the area, the renovated basement significantly expands the usable living space. This makes the home more functional than the square footage alone might suggest.
2. How does the assessed value relate to the likely selling price?
The assessed value is a municipal tax valuation, not a market price. This home's assessed value is typical for its street. Market price will be influenced more by recent sales of similar homes, the renovated basement, and current buyer demand.
3. What is the neighbourhood like?
East Elmwood is a mature, established neighbourhood. This property's metrics show it is very typical for the area in terms of lot size, home age, and value, indicating a stable, consistent community character.
4. Are there any obvious red flags from the sales history?
The home sold in 2022 and previously in 2016. This indicates normal turnover. The increase in sale price between those periods is consistent with broader market trends over that six-year span.
5. What are the long-term considerations for a home of this age?
Built in 1950, the core structure is over 70 years old. While the basement has been renovated, a prospective buyer should budget for and inspect the age-related systems common to homes of this era, such as plumbing, electrical, and the roof.