Property Overview
This two-storey home on Talbot Avenue in East Elmwood presents a compelling mix of space, value, and location. Built in 1977, it is a notably newer construction compared to many homes in the area. With 1,134 sqft of living space and a 4,626 sqft lot, it offers above-average room both inside and out for the immediate neighbourhood. A key standout feature is its detached garage. The home’s assessed value is exceptionally high for the street and East Elmwood, indicating it is viewed as a premium property within its local market, though it aligns with the broader city average. The basement exists but is unrenovated, presenting a blank canvas for future expansion.
Its appeal lies in offering modern convenience (for the area) on a quiet street, with the space and lot size to grow. It would suit a practical buyer looking for a move-in-ready home that doesn’t require immediate updates, or an investor/renovator who sees potential in the unfinished basement. The strong assessment suggests it’s a solid anchor property in a stable community.
Frequently Asked Questions
1. What does the high assessed value relative to the neighbourhood mean?
It typically indicates the property is in better condition, has more desirable features, or is on a more premium lot than many around it. For a buyer, it can signal a well-maintained home but may also relate to its property tax calculation.
2. Is the unrenovated basement a drawback?
Not necessarily. It means there are no hidden problems from a poor renovation and offers the next owner full control to finish it to their taste and needs, potentially adding significant value.
3. How does the 1977 build year affect the home?
In an area with many older homes, this newer build year likely means more modern wiring, plumbing, and insulation standards, which can mean lower immediate maintenance costs and better energy efficiency.
4. Who might this home not suit?
Buyers seeking a fully updated, turn-key property with a finished basement may need to budget for renovations. Those prioritizing a massive city-sized lot or a brand-new build might also look elsewhere.
5. What is the neighbourhood character of East Elmwood?
East Elmwood is a mature, established community. A home from 1977 is considered relatively new here, offering a blend of quieter, tree-lined streets with the practicality of a more recent construction.