Property Overview
This two-storey home at 988 Beach Avenue in East Elmwood presents a compelling opportunity for buyers seeking space and value. Its key appeal lies in its generous proportions relative to the immediate area. The house offers 1,624 sqft of living space, which is significantly above average for both Beach Avenue and the wider East Elmwood neighborhood. It sits on a large, nearly 6,000 sqft lot, ranking in the top 4% of lots on its street, providing ample outdoor space and potential. A notable feature is its renovated basement, adding functional living area. Built in 1979, it is a newer construction compared to many neighboring homes, potentially implying fewer major age-related updates in the near term. The detached garage offers flexible storage or workshop space.
This property is well-suited for growing families or anyone who prioritizes indoor and outdoor space over a brand-new build. It’s ideal for a practical buyer who appreciates a home that stands out in its local context for size and lot, and who may see value in a property that has already undergone some key renovations, like the basement. The recent sale in late 2023 provides a clear, current market benchmark for value.
Frequently Asked Questions
How does the home’s size compare to others nearby?
The living area is in the top 11% on Beach Avenue and top 12% in East Elmwood, meaning it is substantially larger than most direct comparable homes in the neighborhood.
Is the lot size a significant feature?
Yes. The lot is approximately 5,977 sqft, which is in the elite top 4% for Beach Avenue. This is a standout characteristic, offering more private outdoor space than most nearby properties.
What does the 1979 build year mean for a buyer?
While not a new build, this home is notably newer than the average home on its street (avg. 1953) and in East Elmwood. This can suggest updated building materials and systems compared to much older stock, though all components should still be professionally inspected.
The assessed value seems low compared to the recent sale price. Why?
Municipal assessed value (34.90k) is for taxation purposes and is typically not an indicator of current market value. The home sold for 360k in October 2023, which is the relevant market benchmark.
Who would this home not suit as well?
Buyers seeking a modern, open-concept layout or a recently built home with all new finishes may find the 1979 floor plan requires updates. It may also not suit those looking for a low-maintenance property with no renovation projects, as some systems may be due for review or updating given its age.