Property Overview & Key Characteristics
This one-and-a-half storey home, built in 1927, is situated on a mature, tree-lined street in the established Elm Park neighbourhood. With 1,212 sqft of living space and a 5,001 sqft lot, it presents a classic, more compact footprint. The home features a detached garage and an unrenovated basement, indicating potential for future customization.
Its primary appeal lies in its location and value proposition within Elm Park. While the home itself is modest in size and vintage, its assessed value ranks significantly above average for the neighbourhood, suggesting the value is heavily anchored in the desirable lot and location rather than the current structure. This creates a distinct opportunity: it’s a chance to own a home in a prime area where the land itself is a key asset, ideal for those who see potential in a property's foundations over its current finishes.
This property would best suit a specific type of buyer: a practical homeowner or investor who values location over immediate move-in readiness. It’s a fit for someone comfortable with a project, whether that’s gradual updates or a future substantial renovation, and who understands they are purchasing a solid address with the inherent value concentrated in the land.
Frequently Asked Questions
1. How does this home’s size compare to others in the area?
The living space is below average for its immediate street but is around the average size when compared to the broader Elm Park neighbourhood and the city overall. It’s a characteristically cozier home for the street.
2. The assessed value seems high for the home’s specs. Why is that?
The assessment ranks in the top 21% for Elm Park, which is notably high. This typically reflects the premium value of the lot and location within this established area, rather than the current state of the 1927-built structure.
3. What does “unrenovated basement” imply?
This indicates the basement is in original or functional condition, but not modernized. Buyers should budget for any desired improvements and consider a thorough inspection to understand the scope of any needed updates, from moisture management to finishing.
4. Is the lot size a disadvantage?
At just over 5,000 sqft, the lot is smaller than most on Kingston Row and in Elm Park. However, it is near the city-wide average. This may appeal to those seeking lower outdoor maintenance while still having private yard space, a trade-off for the prestigious address.
5. Who would be the most likely buyer for this property?
The most natural buyer is value-oriented and sees potential. This includes renovators looking for a solid neighbourhood to put down roots, or investors who recognize that the land value in Elm Park provides a stable foundation, with the existing home offering rental income or redevelopment options down the line.