Property Overview: 623 Machray Avenue
Key Characteristics & Appeal
This two-storey home, built in 1913, offers a classic layout with 1,472 sqft of living space and a full, unrenovated basement. It sits on a 4,038 sqft lot and includes a detached garage. The property's appeal lies in its solid, above-average footprint for the immediate Inkster-Faraday neighbourhood, providing more interior space than many local comparables. Its assessed value is notably higher than the neighbourhood average, which can signal a strong perceived value by the city assessor relative to the area.
This home would suit a practical buyer looking for character and space in a mature neighbourhood, who is comfortable with a home of this vintage and sees potential in a basement that awaits their personal touch. It’s a property for someone who values a larger interior floor plan over a large yard, and who may be strategically minded about value within a specific community rather than comparing city-wide averages.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
While its assessed value is around average for Machray Avenue itself, it ranks in the top 18% for the Inkster-Faraday neighbourhood. This suggests the city assesses it more favorably than most homes in the wider area, which can be a point of consideration for both value and potential property taxes.
2. How does the lot size compare?
The lot is below the average size for both the street and the city overall. However, for the Inkster-Faraday neighbourhood specifically, it is above average. This highlights the importance of context: you're getting a larger-than-typical lot for this particular community.
3. The home was built in 1913. What should I consider?
A home of this age offers character but requires a focus on maintenance and updates. Key systems like wiring, plumbing, and the foundation should be thoroughly inspected. The unrenovated basement presents both a project and an opportunity to customize.
4. How does the last sold price (2020) relate to the current assessed value?
The home sold for an estimated $19.5k–$22.5k in 2020, and is now assessed at $24.20k. This increase aligns with broader market trends, but the assessed value is not a market price. A professional appraisal or comparative market analysis is needed to determine its current fair market value.
5. Who are the most likely neighbours?
Based on the nearby listings, you would be moving into a tight-knit, established block with closely spaced homes. The proximity of neighbours (as close as 10 meters) is typical for the area and contributes to a traditional, community-oriented streetscape.