Property Overview
This 1949 one-and-a-half storey home at 848 Manhattan Avenue in East Elmwood is a practical and well-positioned starter home or investment property. With 900 sqft of living space and a recently renovated basement, it offers modern livability within a classic footprint. The detached garage and a generous 4,231 sqft lot provide valuable outdoor space and flexibility. Its assessed value is notably consistent with similar homes on its street and in the neighbourhood, suggesting a stable and predictable market value. The home last sold in July 2020.
Key Characteristics & Appeal
This property’s primary appeal lies in its balance of modest updates, functional space, and a solid neighbourhood footing. The renovated basement adds immediate usable space without the need for a major project. While its size is below the citywide average, it is perfectly aligned with—and even slightly above average for—homes on Manhattan Avenue itself, indicating it fits comfortably within the local context. This isn't a sprawling property, but a manageable one.
It would suit first-time buyers looking for an entry point into homeownership without a "fixer-upper" basement, or an investor seeking a stable rental property in a consistent area. The large lot is a less obvious advantage, offering potential for gardening, expansion, or simply more private outdoor space than is typical in newer subdivisions. Its rankings show it’s not an outlier; it’s a representative, middle-of-the-road home for East Elmwood, which can be a virtue for those seeking affordability and community fit over standout luxury.
Frequently Asked Questions
1. How does the assessed value compare to the likely sale price?
The assessed value ($25,800) is for municipal tax purposes and is typically much lower than market value. The 2020 sale price was $210,000. Current market value would be determined by recent sales of comparable homes in the area.
2. What does "one-and-a-half storey" mean for this home?
This style, common for its 1949 build date, typically features a main floor with principal rooms and a second floor under sloping roof lines, often containing bedrooms. It offers a classic layout and can provide charming character.
3. Is the living space of 900 sqft sufficient for a small family?
It is a compact footprint. The renovated basement effectively doubles the usable living area, making it functional for a small family or couple. Its size is very typical for the immediate street and neighbourhood.
4. What is the significance of the property rankings provided?
They show how this home compares to others. Key takeaways: its living space and assessed value are very average for its specific street and East Elmwood, meaning it’s not unusually small or overvalued for the area. Citywide, it’s a more modest property, highlighting the neighbourhood's relative affordability.
5. What are the advantages of a detached garage?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the main house's living space or noise levels. It also presents future potential (like converting to a studio, subject to permits) without major structural changes to the home.