Property Overview: 121 Clyde Road, East Elmwood
Key Characteristics & Appeal
This two-storey home on Clyde Road stands out for its generous scale and significant value within its neighborhood. Its primary appeal lies in its substantial 2,400 sqft of living space, which ranks it in the top 2% of homes on its street and the top 1% within East Elmwood. This size offers rare potential for a growing family or those who prioritize spacious, defined rooms over an open-concept layout. The home features a renovated basement and a detached garage, adding functional utility.
The property’s assessed value of $46,700 is notably low, placing it in the top 1% for the area. This creates a compelling scenario: it is a large home in a mature neighborhood with a modest property tax base. The lot size is consistent with local norms, and the 1960 build date is typical for the street. This combination particularly suits value-conscious buyers looking for "more house" in a established community, or investors who see potential in a property where the physical structure significantly outpaces its current official valuation. It’s a home for someone comfortable with a property whose greatest asset—its interior space—may not be fully reflected in its price history.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
The assessed value is for municipal tax purposes and often lags behind market value, especially in a rising market or after significant renovations. The recent sale price is the true indicator of its current market worth.
2. What does the "Elite" ranking for living area actually mean?
It means this home is larger than 99% of comparable homes in East Elmwood. You are getting significantly more interior space than is typical for the area, which is a major advantage for square footage.
3. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
4. How has the property's value changed over time?
The home has seen steady appreciation, with sale prices rising from $34,400 in 2019 to $49,600 in 2024. Each sale has been in a higher percentile ranking for the area, indicating its market position has strengthened.
5. What are the trade-offs for getting so much house in this area?
The trade-off is often an older home (1960) that may require updates to systems or aesthetics. The lot size is average for the neighborhood, so the outdoor space is proportional, not expansive. The value is in the enclosed living space itself.