Property Overview: 256 Margaret Avenue
Key Characteristics & Appeal
This home presents a distinct profile defined by its modern build and compact efficiency. Its primary appeal lies in being a notably newer construction (built in 2011) within an established neighbourhood, ranking in the top 4% for age on its street. This suggests benefits like modern building standards, likely newer mechanical systems, and less immediate need for major updates. The living space is cozy at 880 sq ft, placing it below the local average, which positions it as a true starter home or a low-maintenance option. The lot size is also compact relative to the area.
The property suits first-time buyers or downsizers seeking a modern, manageable home without the renovation projects common in older houses. Its assessed value is consistently around the average for its immediate area, indicating it is priced in line with the local market. The combination of a contemporary build on a smaller lot offers a practical, entry-point into homeownership with the potential for lower ongoing maintenance effort and cost.
Frequently Asked Questions
1. What does the "below average" ranking for living and land area actually mean for me?
It confirms this is a compact property. The home itself is smaller than most in Margaret Park, ideal for individuals, couples, or those seeking minimal space to maintain. The lot is also smaller than neighbouring properties, which typically means less outdoor upkeep.
2. The home is newer, but why is the assessed value only average?
While the modern build is a significant asset, the assessed value is a blend of factors including the smaller square footage and lot size. It reflects a balance: you're paying for the condition and age of the structure, not for expansive space or land.
3. How significant is the "Elite" ranking for the year built?
Very. In a neighbourhood where comparable homes average a 1955-1963 build date, a 2011 construction stands apart. This often translates to better energy efficiency, newer wiring and plumbing, and contemporary layouts, reducing the likelihood of costly, near-term replacements.
4. Who might this property not suit as well?
Buyers prioritizing large indoor living areas, extensive gardens, or the character/details of an older home may find it limiting. It’s geared toward practicality and modern convenience over space and traditional charm.
5. The sold price history shows a range from 2019. How can I get an accurate current value?
The listed sold price is an estimated range from public data. For the exact historical sale price to inform your offer, you can request it directly via the email service provided on the listing page. This ensures you have precise figures for comparison.