Property Overview
This two-storey home at 727 Warsaw Avenue in Earl Grey presents a classic character property with practical potential. Built in 1910, it sits on a standard city lot and offers 1,100 sqft of living space, which is typical for the area. Key features include a detached garage and an unfinished basement. Its assessed value is notably lower than many comparable properties, both locally and citywide. The appeal lies in its position within a well-established neighbourhood, offering a more accessible entry point into the market. This home would suit a buyer comfortable with a property that has retained its original foundation—someone looking for a character home to gradually renovate to their taste, or an investor seeking a solid rental property in a desirable area. It’s less suited for those seeking a modern, turn-key home without any projects.
Frequently Asked Questions
Is this a good value for the area?
The data suggests it is. The home’s assessed value ranks in the bottom third for Warsaw Avenue and Earl Grey, meaning it is priced below many of its direct peers. This can indicate a relative value opportunity in a sought-after neighbourhood.
What does the "unfinished basement" imply?
It means the basement space is in a rough, utility state—likely concrete floors and exposed walls and joists. While it offers ample storage and future potential for development, it requires a significant investment to finish as living space.
How does the age of the home affect things?
Built in 1910, it is among the older homes in the city. This often means charming original details but also necessitates careful attention to aging components like wiring, plumbing, and the foundation during an inspection. Modernization will be a consideration.
Is the lot size a drawback?
At just over 3,000 sqft, the lot is smaller than average for the street but typical for Earl Grey. It provides a manageable yard space for gardening or relaxing without extensive maintenance, which some buyers may prefer.
What can recent sales tell us?
A nearby, very similar home at 749 Warsaw Avenue sold recently, providing a direct market comparison. Reviewing its sale price and condition would be a crucial step in understanding the current value of this property.