Property Overview: 807 Beach Avenue, East Elmwood
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1949, is a quintessential East Elmwood property that represents solid value in a well-established neighbourhood. With 894 square feet of living space and a renovated basement, it offers functional living on a standard 4,441 sqft lot. A detached garage provides practical storage or workshop space. Its appeal lies in its position as a manageable, no-frills home that has been maintained and updated where it counts. The data suggests it is consistently average or better compared to its immediate neighbours and area, indicating it fits comfortably within the local market context without standing out as over-improved or under-maintained.
This home would suit first-time buyers seeking an entry point into homeownership, or practical investors looking for a stable rental property. It’s for those who value neighbourhood character over square footage, and who appreciate a home that doesn’t require immediate major updates. A thoughtful perspective is that its "average" metrics within East Elmwood are actually a strength—it suggests a lower risk of overpaying for hyper-local trends and offers a realistic benchmark for future value.
Frequently Asked Questions
1. How does the sold price from 2023 relate to the current assessed value?
The home sold for $290,000 in September 2023, which is significantly higher than its $25,600 assessed value. It’s important to understand that municipal assessed value for property tax purposes is rarely an indicator of market value or recent sale price.
2. Is the living space considered small?
At 894 sqft, it is slightly below the average for similar homes in East Elmwood (1,048 sqft). This indicates a more compact, efficient layout suited for smaller households or those comfortable with cozier spaces.
3. What does the "renovated basement" likely include?
While specifics aren't listed, a renovated basement in a home of this era typically means it has been finished into a livable space, possibly including a family room, bedroom, or utility area, adding functional space beyond the main floor square footage.
4. How does the lot size compare?
The lot is just over 4,400 sqft, which is very typical for the street and East Elmwood. It provides a standard backyard space for the area but is smaller than the city-wide average for single-family homes.
5. Are homes on this street similar?
Yes. Nearby listings on Beach Avenue show very comparable homes in age, size, and assessed value, indicating a street of consistent character and value. This can provide neighbourhood stability but may limit dramatic, outlier appreciation.