Property Overview: 717 Warsaw Avenue, Earl Grey
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1909, presents a classic character home opportunity in the established Earl Grey neighbourhood. With 1,180 sqft of living space, it sits on a notably generous 3,598 sqft lot for the area, offering above-average outdoor space compared to its immediate peers. The home features a detached garage and an unrenovated basement, indicating significant potential for customization.
Its primary appeal lies in its value proposition and lot size within a desirable location. The home’s assessed value is consistently below the average for its street, neighbourhood, and city, suggesting a potentially accessible entry point into the market. This is a property suited for a hands-on buyer—perhaps a renovator looking to add value, an investor seeking a character property with good land, or a first-time buyer prioritizing location and lot size over a move-in-ready finish. The historical charm and the below-average assessment, paired with the larger-than-typical Earl Grey lot, offer a tangible project with room to grow, both indoors and out.
Frequently Asked Questions
1. What does "below average" assessed value indicate?
It means the city's assessment for this property is lower than most comparable homes in its grouping. This often results in relatively lower property taxes, but it can also reflect the home's age and condition, pointing to potential for value increase through updates.
2. How significant is the lot size?
At 3,598 sqft, the lot ranks in the top 27% for the Earl Grey neighbourhood, meaning it's larger than many nearby properties. This is a key asset, providing more private outdoor space or future expansion potential than is typical for the area.
3. What should I expect with a 1909 build?
While offering classic charm, a home of this age will likely require careful attention to foundational, electrical, and plumbing systems. The unrenovated basement condition should be thoroughly inspected to understand the scope of any needed updates or repairs.
4. Is the living space sufficient for a family?
At 1,180 sqft, the living area is around the neighbourhood average. The one-and-a-half storey layout typically offers functional space, but buyers should consider if the room sizes and configuration match their needs, as older floor plans can differ from modern open-concept designs.
5. How does the recent sale history influence value?
A nearby, very similar home at 749 Warsaw Avenue sold in March 2022. While market conditions change, this provides a concrete, recent benchmark for what buyers were willing to pay for a character home in this exact location, which is valuable context for your offer.