Property Overview & Key Characteristics
This 1913 two-and-a-half storey home on Cobourg Avenue in Glenelm presents a blend of historic charm and modern practicality. Its key appeal lies in its generous proportions and established neighbourhood setting. With 1,750 sqft of living space, it ranks in the top 7% of homes in Glenelm for size, offering more room than most in the area. The lot is also notably spacious at over 3,000 sqft. A recently renovated basement and a detached garage add significant functional value. While the home's age is reflected in its assessed value, its above-average living area suggests a property that balances affordability with space—a relative rarity. This home would suit a buyer looking for character and room to grow in a mature neighbourhood, who values the potential of a renovated basement and is comfortable with the upkeep of a century-old structure.
Frequently Asked Questions
1. What does the "renovated basement" typically entail in a home of this era?
While specifics require a viewing, in a 1913 home this usually means essential updates have been made, such as moisture management, proper insulation, electrical, and finished living areas. It’s a major advantage, as unfinished or problematic basements are common in older properties.
2. How does the assessed value compare to likely market value?
The assessed value is for municipal tax purposes and is often lower than market value, especially in active markets or for renovated properties. The nearby comparable listings with similar assessed values but different sizes and conditions highlight that market value is driven by much more than this number alone.
3. The home ranks highly for size but lower for year built. What should I consider?
This indicates you are getting more square footage for your dollar compared to newer homes, but must budget for the maintenance and updates expected of a 113-year-old home. The trade-off is character and space versus potential ongoing projects.
4. Is the detached garage a standard feature in Glenelm?
Not necessarily. A detached garage on a large lot is a valuable asset in older neighbourhoods, providing secure parking and extra storage or workshop space that many neighbouring properties may lack.
5. What is the significance of the lot size ranking?
Ranking in the top 81% on the street for lot size means this property is on one of the larger parcels on Cobourg Avenue. This offers more outdoor space, potential for gardening, better privacy from neighbours, and room for additions like a deck or shed.