31 Elbe Road

Property Overview

This well-located Amber Trails home presents a solid opportunity in a desirable, modern neighbourhood. Built in 2013, it sits on a generous 5,122 sqft lot with an attached garage. The 1,237 sqft one-storey layout includes a basement that is present but not renovated. The home recently sold in January 2024 for $468,000, which is notably above its $460,000 assessed value.

Key Characteristics & Appeal

The primary appeal of this property lies in its balance of a newer build, a large lot, and a move-in-ready condition within a popular suburban community. Its key characteristic is being a newer, low-maintenance home in a neighbourhood full of similar-aged properties, offering a sense of consistency and community. The lot size is a significant asset, ranking in the top third of the street, providing ample outdoor space uncommon in many newer subdivisions.

This home would suit first-time buyers or downsizers looking for a single-level living layout without a major renovation project. It also appeals to value-focused buyers who see potential in the unfinished basement for future customization, whether for storage, a recreation room, or additional living space. A less obvious perspective is its strong "neighbourhood fit" for someone seeking a home that is very typical for Amber Trails in both age and style, which can be a positive for long-term value stability. However, buyers seeking a larger living area or a modern, turnkey basement should note that the home's interior space is more compact compared to many area listings.

Frequently Asked Questions

1. What does "basement not renovated" mean?
It indicates the basement is unfinished. It is likely a concrete-walled and -floored space with essential utilities but no developed rooms, offering a blank canvas for future finishing.

2. Why did it sell for more than its assessed value?
Assessed value is for municipal tax purposes and can lag behind the current market. The sale price reflects what a buyer was willing to pay in a competitive market, potentially due to the desirable lot, neighbourhood demand, or the home's condition.

3. How does the living area compare to nearby homes?
At 1,237 sqft, the living area is notably smaller than many comparable homes in Amber Trails, as shown in the listings provided. This suggests a more efficient or compact floor plan, which is a trade-off for the larger lot size.

4. Is the property considered a good value in its area?
The data shows it ranks in the top quarter of the street for assessed value, meaning it is among the most highly valued properties on Elbe Road. This can indicate a premium location on the street or superior finishes, but it also means buyers are paying for that standing.

5. What are the implications of it being a 2013 build?
A home from 2013 is still relatively new, benefiting from modern building codes and materials. However, it is now over a decade old, so key components like the roof, HVAC, and appliances may be nearing mid-life and could require attention or updates sooner than a brand-new build.