Property Overview & Appeal
This one-storey home at 34 Cunnington Avenue in Elm Park is defined by a compelling contrast: a modest, renovated 736 sqft living space on a notably large 6,030 sqft lot. Its appeal lies in this potential. The house itself is efficient and updated, featuring a renovated basement, but the standout feature is the land. The lot size ranks in the top 4% on its street, offering rare space for gardens, expansion, or future development in an established neighbourhood. With an assessed value that is average for the area, it presents an entry point into a desirable location where value is often tied to land.
It would suit a practical buyer who values location and land over sheer square footage. This could be a first-time buyer looking for a manageable home with outdoor space, an investor eyeing the lot's future potential, or someone seeking a lower-maintenance property without sacrificing yard size. It’s a property for those who see the foundation and the footprint as equally important.
Frequently Asked Questions
1. Is the house too small?
At 736 sqft, the living area is below average for the neighbourhood. However, the renovated basement adds functional space. The trade-off is the exceptionally large lot, which offers room to potentially expand the home in the future.
2. What does the "Elite" ranking for land area mean?
This means the property's lot size is larger than 96% of the lots on Cunnington Avenue. In practical terms, you are getting significantly more outdoor space than most of your immediate neighbours, which is a rare find in mature areas.
3. How does the assessed value compare to recent sale prices?
The current assessed value is $32,800. The home last sold in 2019 for $265,000 and in 2017 for $250,000. It’s important to consult a real estate professional for a current market valuation, as assessments and market value can differ.
4. What is the neighbourhood like?
Elm Park is an established, mature neighbourhood. The age of homes on the street averages from the early 1940s, and the property fits this character. The large lot offers a sense of privacy and space that can be harder to find in newer subdivisions.
5. Are there any obvious concerns with an older home?
Built in 1932, the home’s systems (roof, wiring, plumbing) should be thoroughly inspected. The recent basement renovation is a positive update, but an inspection will clarify the condition of the original structure and foundation.