431 Talbot Avenue

Property Overview

This property at 431 Talbot Avenue presents a distinct opportunity centered on its land and location. The home itself is notably older, with a very low municipal assessed value, indicating it may be a teardown or in need of significant renovation. Its primary appeal lies in its substantial 7,265 sqft lot, which ranks within the top 5% on its street and top 15% city-wide for size. This combination of a large, cleared parcel in an established neighbourhood is its key characteristic. It suits buyers looking for a land play—whether for building a new primary residence, holding as a long-term investment, or for a builder/developer seeking a infill project. The appeal is not in the existing structure but in the potential of the ground it sits on.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes?
The assessed value is based on the existing structure. Given the home's age and condition relative to others, the value is almost entirely in the land, resulting in a low total assessment.

2. Is this strictly a teardown property?
While the data strongly suggests it, a full inspection is necessary. The rankings show the living area is very small compared to city averages, and the year built is among the oldest, so significant investment would be needed to renovate.

3. What can be built on a lot of this size?
At over 7,200 sqft, the lot offers flexibility. Buyers should verify all zoning bylaws with the city, but lots of this size can often accommodate a sizable new home with ample yard space or potentially a multi-unit development, subject to approvals.

4. How does the sale history affect the value?
It last sold for $24,500 in 2017. This history, combined with the current low assessed value, indicates the market has consistently valued it as a land asset, not for its dwelling.

5. Are the utility connections and services to the property modern and sufficient for a new build?
This is a critical due diligence question. Even if the house is replaced, you must confirm the capacity and condition of water, sewer, electrical, and gas services from the street to the property line to accurately budget for a new construction project.