Property Overview
This 845 sqft, one-storey home on King Edward Street presents a straightforward, low-maintenance living option. Built in 1912, its key characteristic is its modest scale and correspondingly low financial footprint, as evidenced by an assessed value significantly below city averages. The lot is compact at just under 2,700 sqft. The home has a basement, but it is not renovated, and there is no garage or pool.
Its appeal lies primarily in affordability and simplicity. It suits a very specific buyer: someone seeking an entry point into the market with minimal property tax liability, an investor looking for a rental property with low carrying costs, or an individual who values a small, manageable footprint without the upkeep of a larger lot or newer home. A less obvious perspective is that its age and unrenovated state could appeal to a buyer wanting a true "blank canvas," albeit one that requires a thoughtful inspection for a home of its vintage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is based on factors like size, age, condition, and location. This home's below-average living area, age, and unrenovated condition place its municipal assessment in a lower range, which translates to lower property taxes.
2. What does "basement, not renovated" typically mean?
This usually indicates a functional but unfinished space. It likely provides essential utilities and storage but would not be considered livable finished space. Buyers should budget for potential updates to insulation, moisture control, or flooring.
3. Is the small lot size a disadvantage?
It depends on your priorities. A smaller lot means less yard maintenance and cost, which is a benefit for those seeking simplicity. However, it offers less private outdoor space and limited potential for expansions like a large addition or garage.
4. Who might this property not be suitable for?
It would likely not suit a growing family needing multiple bedrooms and bathrooms, anyone requiring ample storage or parking (as there's no garage), or a buyer unwilling to handle the maintenance or potential updates common with a 114-year-old home.
5. The last sold price range shows $20.5k-$23.5k. Is that accurate?
The provided range is an estimate from public data. For the exact historical sale price, you can request the information via email from the site; they provide this verified data manually without marketing spam.