Property Overview & Appeal
This one-storey home at 42 Glenlawn Avenue in Elm Park is a classic, compact property built in 1949. Its key characteristic is its efficient 792 sqft living area, which is notably smaller than most comparable homes in the neighbourhood and city. This is balanced by a renovated basement and a detached garage on a standard 5,212 sqft lot. Its assessed value is firmly in the average range for the area.
The appeal lies in its manageability and location. It represents a lower-maintenance footprint in a well-established neighbourhood, ideal for those seeking simplicity without sacrificing a prime Elm Park address. The renovated basement adds valuable functional space, effectively increasing the usable area beyond the main floor square footage. This property would best suit first-time buyers, downsizers, or investors looking for a character home in a desirable area without the scale and upkeep of a larger house. It offers an entry point into a mature community where many homes are significantly larger and more expensive.
Frequently Asked Questions
1. Is the house too small?
At 792 sqft, the living area is below average for Elm Park. However, the renovated basement provides additional flexible space, making the total usable area more practical than the main floor square footage alone suggests.
2. How does the assessed value compare?
The home’s assessed value is consistently around the neighbourhood average. This indicates it is priced in line with the market for the area, despite the living space being smaller than many peers.
3. What is the significance of the lot size?
The lot is just over 5,000 sqft, which is typical for the street and area. It provides a good balance of outdoor space for gardening or relaxation without being overly burdensome to maintain.
4. Are older homes a concern?
Built in 1949, it is older than many on its street but not unusual for Elm Park. Prospective buyers should prioritize a thorough inspection to understand the condition of major systems, but the home’s age is characteristic of the neighbourhood’s charm.
5. Why did it sell for significantly less in 2017?
The 2017 sale price was notably lower than its current assessed value. This discrepancy highlights strong market appreciation over that period and underscores the importance of using current, professional valuations rather than historic sale prices when considering today’s market value.