Property Overview
This one-and-a-half storey home on King Edward Street presents a specific and compelling opportunity. Built in 1912, it sits on a modest 2,541 sqft lot and offers 1,128 sqft of living space. Its key characteristic is a pronounced contrast: while its living space is above average for the immediate street and neighborhood, its assessed value is notably below average across all comparison levels. The home has a basement but it is not renovated, and there is no garage or pool. It last sold in June 2021.
Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition and potential. With an assessed value significantly lower than city and area averages, it represents an accessible entry point into the King Edward neighborhood. The above-average living area for the street suggests a relatively spacious interior for the price point. This home would suit a value-conscious buyer, such as a first-time purchaser or an investor, who is comfortable with a home that likely requires updates. Its age and unrenovated basement point to a "blank canvas" opportunity, but one that demands a practical assessment of renovation costs and timelines. A less obvious perspective is that the very compact lot size, while a limitation for expansion or extensive outdoor space, translates to lower maintenance responsibilities, which could be a benefit for a busy owner.
Frequently Asked Questions
1. Why is the assessed value so much lower than averages?
The assessed value is a municipal valuation for tax purposes and is often influenced by the home's age, condition, and specific market factors. Its below-average valuation relative to the neighborhood and city indicates it may be priced as a fixer-upper or require significant investment.
2. What does "basement not renovated" typically mean?
This usually indicates the basement is in original or utilitarian condition. It likely has foundational finishes (concrete floors, exposed beams/mechanicals) and may have limited finished living space. It should be inspected for moisture issues, insulation, and code compliance.
3. How does the small lot size affect the property?
The lot is significantly smaller than area averages. This limits potential for additions, extensive landscaping, or detached structures like a garage. However, it also means less yard work and lower exterior maintenance costs.
4. Who would this property be a good fit for?
It's best suited for a buyer with a realistic renovation budget and timeline, such as a handy first-time homebuyer or an investor looking for a property with clear value-add potential through updates.
5. How current is the price history information?
The last recorded sale was in June 2021. For the most accurate and complete sold price history, you must request the exact data via the provided email service, as public records may show ranges or be incomplete.