Property Overview: 225 Yale Avenue, Crescentwood
Key Characteristics & Appeal
This is a substantial, early-century home built in 1909, situated on a large lot in the desirable Crescentwood neighbourhood. Its primary appeal lies in the combination of generous space, a prime location, and significant value. The 6,422 sqft lot is notably larger than most on Yale Avenue and in the area, offering ample outdoor space and a sense of privacy. With 2,155 sqft of living space, the home itself is well above average size for the city. A key modern update is the renovated basement, adding functional living area, while the detached garage provides classic character and flexibility.
The home’s standout feature is its exceptional assessed value, which ranks in the top 1% citywide and top 4% on its street. This indicates a property that is highly valued by the city assessor relative to its peers, often a marker of desirable location, lot size, and condition. It suits buyers looking for a character home with room to grow, who value established, tree-lined neighbourhoods over new subdivisions. It’s ideal for someone who appreciates the charm and space of an older home but wants the assurance of recent renovations (like the basement) and the strong investment profile signaled by its high assessment.
Frequently Asked Questions
1. What does the exceptionally high assessed value mean for me?
A high assessed value relative to similar homes generally reflects the city’s view of the property’s market worth, often driven by lot size, location, and improvements. It can be a positive indicator of equity and investment strength, but it’s important to review recent sale prices in the area for a complete market picture.
2. The home was built in 1909. What should I consider?
While the home offers classic charm and sturdy construction, its age means potential buyers should pay close attention to the condition of major systems (plumbing, electrical, roof) during an inspection. The renovated basement is a positive update, but the overall maintenance profile will be that of a century-old home.
3. How does the detached garage impact daily use?
A detached garage maintains the home’s traditional streetscape but means dealing with the elements when going between your car and house. It can also offer flexibility for use as a workshop or studio, separate from the main living space.
4. The lot is large, but what are the responsibilities?
A lot size in the top 21% for the street is a major asset, but it also means higher costs and effort for landscaping, lawn care, snow clearing, and potential exterior maintenance compared to a standard lot.
5. How does the sale history inform the current value?
The property sold for $860,000 in late 2020, a price that ranked in the top 5% for the street at that time. This history, combined with its current high assessed value, suggests a property that has been perceived as premium. Understanding market changes since 2020 will be key in evaluating its current listing price.