Property Overview
This one-storey home at 992 Beach Avenue in East Elmwood is a straightforward, no-frills property that presents a clear value proposition. Its key appeal lies in its generous lot size—nearly 5,000 sqft, which is above average for the immediate area—paired with a very modest assessed value. The 868 sqft living space is typical for the neighbourhood but below the citywide average, and the basement is noted as unrenovated. Built in 1953, it aligns with the area's vintage.
This home suits practical buyers looking for an entry point into homeownership or a long-term land play. Its low assessed value suggests it may be one of the more accessible priced homes on Beach Avenue, ideal for those comfortable with a property that likely requires updates. The large lot offers tangible potential for gardening, expansion, or simply enjoying more outdoor space than is common in the price range. It’s a property where the land is a more significant asset than the current structure, appealing to visionaries who see value in the long-term potential rather than immediate turn-key perfection.
Frequently Asked Questions
1. Is this a good value for the area?
The assessed value is notably below average for Beach Avenue and East Elmwood, indicating it could be a more affordable option in the neighbourhood. This often reflects the home's condition and smaller living area, so value depends on your priorities: lower upfront cost versus potential renovation needs.
2. What does "basement not renovated" typically mean?
It usually indicates a functional but unfinished space. Expect a concrete floor and exposed walls/utilities. It provides ample storage and mechanical space but would require investment to become a finished living area.
3. Who would this property not suit?
It may not suit those seeking a modern, move-in-ready home or those who prioritize above-average interior square footage. The appeal is geared toward buyers willing to grow into the property or invest in it over time.
4. How significant is the lot size?
Very. At 4,848 sqft, the lot is larger than most on the street. This is a key differentiator, offering more private outdoor space and future possibilities, which is a rare find in this price segment.
5. What’s the immediate neighbourhood like?
The density of very nearby, similarly valued homes suggests a stable, established community of primarily older, modest-sized homes. It’s likely a quiet, unpretentious area where property values are driven more by location and lot than by luxury finishes.