This one-storey home at 748 Talbot Avenue in East Elmwood presents a specific and practical value proposition. Its key appeal lies in a desirable combination: a recently renovated basement and a detached garage on a notably large lot for its street, all at an assessed value that is very manageable compared to the wider city. At 735 sq ft, the living space is compact, ranking below average for the area, which indicates a home suited for efficient living rather than spaciousness. Built in 1948, it is a classic post-war property. The standout feature is the land—at nearly 4,700 sq ft, the lot size is well above average for Talbot Avenue, offering valuable outdoor space and potential. This home would suit first-time buyers, downsizers, or investors seeking a straightforward, lower-maintenance property with a strong land base and recent updates to the basement, prioritizing lot size over interior square footage.
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What does the "renovated basement" entail?
It's important to request details on the scope, quality, and permits for the basement renovation to understand its finish and functionality.
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How does the lower square footage affect livability?
The living area is notably smaller than area averages. Buyers should consider if the layout and room sizes meet their needs, though the renovated basement may provide additional usable space.
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Why is the assessed value significantly lower than the city-wide average?
The assessed value is in line with the local East Elmwood market but far below the city average, reflecting the home's modest size, age, and the neighborhood's affordability. This typically translates to lower property taxes.
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What are the opportunities with the larger lot?
The above-average lot size is a key asset. It offers more privacy, yard space, and future potential (like gardening, expansions, or adding a shed) than many neighboring properties.
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What is the condition of the detached garage?
The presence of a detached garage is a plus, but its size, condition, and suitability for modern vehicles or storage should be verified.