Property Overview & Key Characteristics
This condominium at 903-160 Tuxedo Avenue offers a compelling blend of space and value. Its primary appeal is its generous 1,720 sqft living area, which places it among the larger units available, ranking in the top 3% city-wide for size. Built in 1984, the property is well-established within its Edgeland neighbourhood. The assessed value of $39,300 is above average for the broader city, yet sits around the median for Tuxedo Avenue itself, suggesting you are acquiring significant square footage without a premium neighbourhood surcharge.
The appeal lies in securing a spacious home in a mature area, where the interior space significantly outpaces city and local area averages. It would suit a buyer prioritizing roominess over a brand-new build, such as a downsizer seeking a manageable condo without sacrificing space, a young family needing the square footage, or an investor attracted to a unit with a competitive assessment that offers more room than typical in its price bracket. A thoughtful perspective is that this unit represents a "value-for-space" proposition, especially when compared to newer, often smaller, condos at similar price points.
Frequently Asked Questions
1. How does the size of this unit compare to others?
Exceptionally well. With 1,720 sqft, it is larger than approximately 97% of comparable homes city-wide and is above average for both the immediate street and the Edgeland area.
2. What does the assessed value indicate?
The $39,300 assessment is above the city average but typical for Tuxedo Avenue. This suggests the property is valued fairly within its specific, desirable location rather than carrying an inflated premium.
3. Is the 1984 build year a concern?
The building is 42 years old, which is around average for the street but older than many in the Edgeland area. Prospective buyers should factor in potential condo reserve fund health and upcoming major repairs, balanced against the proven stability of a mature building.
4. What is the recent sales history?
The unit last sold in April 2023 for $42,500, which was above its current assessed value. This recent transaction provides a concrete, modern benchmark for its market price.
5. Are there many similar units in the building?
Yes. The listing shows several other units at the same address, indicating a larger condominium complex. This can be positive for community atmosphere but underscores the importance of reviewing condo corporation governance and financials.