Property Overview
This two-storey home on Talbot Avenue in East Elmwood presents a compelling blend of space, value, and established neighborhood character. Built in 1958, it sits on a standard city lot and features a renovated basement and a detached garage.
Key Characteristics & Appeal
The primary strength of this property is its generous living space. At 1,570 sqft, it ranks in the top 6% of homes on its street and the top 13% within East Elmwood for size, offering significantly more room than many local comparables. This is paired with a notably low municipal assessed value, placing it in the top tiers for the area, which suggests a potentially attractive property tax advantage. The renovated basement adds functional, modernized space.
Its appeal lies in offering above-average interior square footage in a mature, no-frills neighborhood at what appears to be a efficient value point. It suits practical buyers—growing families, multi-generational households, or those working from home—who prioritize space and value over newer construction or luxury finishes. A thoughtful perspective is that while the home itself is newer than many on the street, its 1958 build date means major systems may be due for updates, representing both a consideration and an opportunity for customization.
Frequently Asked Questions
1. How does the low assessed value affect property taxes?
A lower assessed value typically results in lower municipal property taxes compared to similar-sized homes with higher assessments, which is a key ongoing cost advantage.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the quality of the renovation, the materials used, and whether it includes a proper secondary suite or is simply finished living space.
3. Is the detached garage insulated or heated?
This detail is not provided. The condition and specifications of the detached garage would be an important point of inquiry for those needing year-round vehicle storage or workshop space.
4. How does the 2022 sale price relate to the current assessed value?
The home sold for $320,000 in late 2022. Its current assessed value for tax purposes ($34,500) is not a market valuation but an administrative figure used by the city. The market value would be determined by current local sales and conditions.
5. What is the typical mix of owners and renters on this street?
The listing shows closely spaced, similar homes, suggesting a long-established block. Understanding the neighborhood's owner-occupancy rate can provide insight into community stability and property upkeep norms.