Property Overview
This 1,239 sqft one-and-three-quarter storey home, built in 1907, sits on a 3,754 sqft lot in Glenelm. It features a detached garage and an unfinished basement. The home presents a classic, no-frills character with its assessed value notably below averages for both the neighborhood and the wider city.
Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition and location. With an assessed value significantly lower than area averages, it represents a more accessible entry point into the established Glenelm neighborhood. The living space is above average for its immediate street, offering comfortable room in a home with historic charm. The lot size is generous for the area, providing good outdoor space relative to nearby properties.
This home would suit a practical buyer looking for character without a premium price tag. It’s ideal for a first-time homeowner comfortable with a property that may require updates, or an investor seeking a rental property with a lower initial tax burden. Its unrenovated state offers a blank canvas for someone wanting to add value through personalized renovations over time.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighborhood average?
This is likely due to the home’s age, its unrenovated condition, and the unfinished basement. Assessed value for tax purposes doesn't always reflect market value, but this lower assessment can mean relatively lower property taxes.
2. What does "one & 3/4 storey" mean for the layout?
Typically, this style features two full floors, with the second floor having slightly sloped ceilings under the roofline. It offers more space and a different feel than a bungalow, but with a cozier, more traditional aesthetic than a full two-storey.
3. Are there any major concerns with a house built in 1907?
While offering charm, a home of this age will require diligent inspection. Key considerations include the condition of the foundation, plumbing, electrical systems (which may have been updated over time), and insulation. Its long history can be a strength if it has been well-maintained.
4. How does the sold price history inform an offer?
The last known sale was between 2016 and 2018. That price reflects the market conditions of that time. Current value will be driven by today’s market, the home’s condition, and recent comparable sales, making a current appraisal or thorough market analysis essential.
5. What is the potential of the unfinished basement and detached garage?
The basement offers future expansion potential for living space, storage, or utilities, subject to local building codes. The detached garage provides valuable secure storage or workshop space, a notable asset in older neighborhoods where many homes lack garages entirely.