Property Overview
This 2017-built, one-storey home on Elgin Avenue W in Brooklands presents a specific and compelling value proposition. Its primary appeal lies in the combination of a modern build year within a neighbourhood of predominantly older homes, paired with a very modest municipal assessment. The 979 sqft living space is practical, and while the lot is smaller than area averages, it requires less maintenance. The home has an unfinished basement and no garage.
This property would suit a first-time buyer or an investor seeking a newer, low-maintenance building without a high property tax burden. It’s also a sensible option for those who prioritize modern construction (like updated electrical and plumbing) over square footage or finished amenities. A thoughtful perspective is that the significant gap between its last sale price and its low assessed value could indicate appeal for buyers focused on current utility rather than speculative investment, though this requires due diligence.
Frequently Asked Questions
What does the "Top 10%" ranking for Year Built mean?
It means this 2017-built home is newer than approximately 90% of comparable properties in the Brooklands area, where the average build year is 1964. This is its most standout feature.
Why is the Assessed Value so much lower than the last Sale Price?
Municipal assessed value for taxation purposes doesn't always align directly with market sale prices. This low assessment suggests potentially lower property taxes, but the market value is determined by what buyers are willing to pay, as seen in its 2017 sale.
Is the smaller lot size a disadvantage?
It depends on your priorities. The lot is below average for the street and area, which means less outdoor space. However, it also translates to less yard work and lower maintenance, which could be an advantage for some buyers.
What does "basement, not renovated" imply?
It indicates the basement exists but is unfinished. This presents both a project and an opportunity. It adds functional space for storage or utilities but would require investment to become livable living space.
How does this home compare to the nearby reference property on Ross Avenue?
The 1991 Ross Avenue home is older (1930), has slightly more living space, and a lower assessed value. This highlights how the Elgin Avenue home’s key advantage is its modern construction year, appealing to buyers wanting newer systems and less immediate upkeep.