Property Summary: 715 Warsaw Avenue
Section 1: Key Characteristics & Appeal
This one-storey home in Earl Grey presents a compelling mix of character and value. Its key characteristics include a renovated basement, a detached garage, and a notably large lot for the area at over 4,200 sqft. Built in 1953, it is a significantly newer construction compared to most homes on its street and in the wider Earl Grey neighbourhood.
The appeal lies in its above-average assessed value within a desirable, established area, suggesting solid inherent value and potential. The renovated basement adds functional living space to the 990 sqft main floor. The generous lot is a standout feature, offering rare outdoor space and future potential in a mature neighbourhood.
This property would suit a first-time buyer or downsizer seeking a manageable, single-level layout in a prime location without a premium price tag. It’s also a practical choice for a value-conscious buyer who appreciates a home with a newer build date among historic character homes, possibly meaning fewer immediate upkeep concerns. The large lot could appeal to those with gardening ambitions or who simply desire more private outdoor space than is typical.
Section 2: Frequently Asked Questions
1. How does the living area size compare to nearby homes?
At 990 sqft, the main living area is slightly below the average for both Warsaw Avenue and the Earl Grey neighbourhood, but the renovated basement provides additional finished space.
2. Why is the assessed value notably higher than area averages?
The home’s assessed value ranks in the top 15% on its street and top 13% in Earl Grey. This is likely due to a combination of its relatively newer construction (1953), the renovated basement, and its larger-than-average lot size for the area.
3. What does the 1953 build year mean in this context?
In a neighbourhood and on a street with many homes built in the early 1900s, a 1953 build is a significant advantage. It often suggests modernized building materials, floor plans, and systems, potentially reducing the need for major updates common in century-old homes.
4. Is the lot size a major feature?
Yes. The 4,219 sqft lot is above average for Earl Grey (top 13%) and provides substantial outdoor space, which is a rarity in mature, inner-city neighbourhoods. This allows for generous yards, gardens, or patio areas.
5. What is important to know about the last sale?
The home sold in June 2017 for $24,200. This historical price is not reflective of current market value but indicates a likely long-term ownership, which can sometimes mean consistent maintenance. The current assessed value is significantly higher, reflecting market changes and property improvements since that time.