Property Summary: 237 Jefferson Avenue
Key Characteristics & Appeal
This is a one-storey home built in 1915, presenting a classic character property with significant potential. Its primary appeal lies in its above-average living space of 1,440 sq ft, which ranks in the top 6% for Jefferson Avenue, offering more room than most comparable homes in the immediate area. The property sits on a 3,876 sq ft lot and features a basement that has not been renovated.
The data reveals a compelling contrast: while the house offers generous interior space, its assessed value is notably below average for the street, neighbourhood, and city. This combination suggests an opportunity for a buyer looking for a spacious canvas to renovate or update to their own taste. The home last sold in late 2020 for an estimated range of $17.5k to $20.5k.
This property would suit a practical buyer or investor who values square footage over modern finishes and is prepared for a project. It’s a home for someone who sees the value in the existing structure and lot size, and who is comfortable with the idea of making gradual improvements. The low assessed value relative to its living area could also appeal to those looking for a lower property tax base while they plan future renovations.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is influenced by many factors, including the property's condition, specific location on the street, and recent sales of similar homes in the area. A lower assessment often reflects the unrenovated state of the home and its market position, not necessarily its potential value after improvements.
2. What does "basement not renovated" typically imply?
This usually indicates the basement is in original or utilitarian condition. It likely has foundational finishes but lacks modern amenities or finished living space. Buyers should budget for potential updates to insulation, moisture control, or flooring, but it also represents untouched potential for additional living or storage area.
3. How significant is the 1915 build date?
A home of this age has character but requires a mindful approach. Prospective buyers should prioritize inspections for the foundation, roof, wiring, and plumbing. While it needs attention, this era of home often features solid construction and layouts that are desirable once updated.
4. The home sold recently in 2020. What does that suggest?
The relatively recent sale indicates the property has changed hands at least once in the current market cycle. A buyer may want to inquire about what, if any, work was done in the last five years to understand the starting point for any new projects.
5. How useful are the "rank" comparisons for making a decision?
These rankings are excellent for context. They clearly show this home is a standout for interior space on its street but is considered older and lower in assessed value compared to peers. This helps identify its strengths (space) and its likely project areas (modernization) relative to the market.