Property Overview
This one-storey home in Elmhurst presents a practical opportunity in a mature neighbourhood. Built in 1978, its key characteristic is a well-sized, 5,352 sqft lot offering more outdoor space than many newer properties. The 1,248 sqft living area is above average for its immediate street and includes a finished basement, adding functional space. Its appeal lies in this established setting with a generous yard, coupled with recent updates evidenced by a significant value increase—the 2022 sale at $460,000 is notably higher than its 2020 price and current assessment. This suggests meaningful improvements have been made.
The property would suit first-time buyers or downsizers looking for a manageable single-level layout in a quiet area. It’s also a fit for value-conscious buyers who prioritize land size over a modern build and are comfortable with a home of this vintage. The lack of a garage is a trade-off for the lot size, appealing to those who might envision a future addition or simply value more green space.
Frequently Asked Questions
Q: What do the ranking percentages mean?
A: They show how this property compares to others in various areas. For example, ranking in the "top 20%" for living area on its street means it's larger than 80% of its immediate neighbours, which is a relative strength.
Q: Why is the 2022 sale price so much higher than the current assessed value?
A: Municipal assessments often lag behind the current market and may not fully reflect recent renovations or improvements made by the seller. The jump from the 2020 sale price likely indicates updates were completed before the 2022 sale.
Q: Is the finished basement included in the 1,248 sqft living area?
A: Typically, municipal living area (sqft) refers to above-grade space. The finished basement is additional square footage, adding usable rooms without increasing the official size calculation.
Q: The home ranks lower within the broader Elmhurst community. Why?
A: While it scores well on its specific street, the wider Elmhurst area contains a diverse mix of homes. Its age and one-storey design may be common, but other parts of the community may have larger or newer properties, affecting the relative ranking.
Q: What are the implications of no garage?
A: This means parking and storage will require planning. Buyers should consider the cost of adding a shed or carport, factor in street parking permits if needed, and assess driveway space for multiple vehicles.