Section 1: Property Overview
This one-storey home at 989 Beach Avenue in East Elmwood presents a specific and compelling value proposition. Its key characteristic is a generous 5,155 sqft lot, which is notably larger than most in the immediate area, offering ample outdoor space and future potential. The living area itself is modest at 768 sqft, with a renovated basement adding functional space. Built in 1953, it sits around the neighborhood average for age and assessed value.
The primary appeal lies in this balance: it’s an entry-point property with a standout lot size. It suits first-time buyers or downsizers seeking a manageable single-level layout without sacrificing yard space. It also appeals to value-oriented investors or buyers with a long-term vision, as the large lot represents a rarity that could be leveraged for expansion, gardening, or simply as a private oasis in the city. The recent renovation of the basement suggests it’s been updated for modern living, adding to its move-in readiness despite the smaller main footprint.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 768 sqft, the above-ground living area is below the neighborhood average. However, the renovated basement significantly expands the usable space, making it more functional than the square footage alone suggests. It’s ideal for those who prioritize efficient living or spend significant time outdoors.
2. What does the "assessed value" mean for the likely sale price?
The municipal assessed value is around $26,300, which is used for calculating property taxes. It is not the market value. The last known sale was in 2019 for $240,000. The sale price will be determined by current market conditions, the home’s updated condition, and its desirable lot size.
3. Why is the lot size important?
The lot is over 5,000 sqft, placing it in the top 20% for East Elmwood. This is a key asset, providing more privacy, room for recreation, storage (like a shed or garage), and future possibilities like a deck, garden, or even an addition, subject to zoning.
4. What is the neighborhood like?
East Elmwood is a mature, established community. Beach Avenue itself shows consistent property values, with this home’s assessed value being around the middle of the pack for the street, indicating a stable, non-flashy area.
5. Are there any obvious concerns?
As a home built in 1953, a thorough inspection is recommended to assess the condition of major aging components like the roof, plumbing, and electrical systems, even with recent basement updates. The detached garage is a plus, but its condition should also be evaluated.