Property Summary: 1030 Southwood Avenue
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, is a classic character property on a notably spacious lot. Its primary appeal lies in its land value and location within the established Beaumont neighbourhood. With a living area of 808 sqft and an unrenovated basement, the house itself presents a straightforward canvas. The standout feature is the 2,485 sqft lot, which ranks in the top 5% for size on its street and the top 1% within the entire neighbourhood. This significant outdoor space offers rare potential for expansion, gardening, or simply enjoying a large, private yard in a mature area.
The property suits specific buyer profiles perfectly. It is an ideal entry point for a hands-on buyer or renovator looking to add value to a well-located character home over time. It would also appeal to an investor seeking a land-value play with existing rental income potential, given its recent sale history. The data suggests a neighbourhood of older homes, making this a solid option for someone prioritizing lot size and established community charm over modern finishes. A less obvious perspective is its appeal to a buyer seeking a manageable, single-level footprint without the constraints of a tiny lot—a balance that can be hard to find in older areas.
Section 2: Frequently Asked Questions
1. What does "Top 1% in neighbourhood" for the lot size actually mean?
It means this property's lot is larger than 99% of other lots in the Beaumont neighbourhood, offering a rare amount of outdoor space for the area.
2. The house was sold in May 2023. Why is it back on the market so soon?
While the reason isn't specified, short-term ownership can sometimes indicate an investor's quick flip, a change in the owner's circumstances, or a renovation project that was reconsidered. Due diligence on the recent history is advised.
3. Is the unrenovated basement finished or usable?
The listing states "Yes, not renovated," which typically indicates the basement exists but is in original or rough condition. It is unlikely to be a finished living space and may require significant work for full utilization.
4. How does the assessed value compare to the likely asking price?
The assessed value is $20,900k, while it last sold for $15.50k in 2023. This large discrepancy is common with older homes and indicates the assessed value is primarily for tax purposes; market value will be determined by current condition, location, and buyer demand.
5. There's no garage. Is there parking?
The listing specifies "Garage: None." Parking would likely be via driveway or on-street. Given the very large lot, there is clear potential to add a garage or dedicated parking pad, subject to local regulations.