Property Overview & Appeal
This 1949 home on Munroe Avenue presents a distinct value proposition centered on its land. The 925 sqft house is modest and slightly below average in size for the area, but it sits on an exceptionally large, 7,819 sqft lot that ranks in the top 1% of the immediate neighborhood and wider Munroe East district. This creates a clear contrast: the home itself is straightforward and may require updates common for its age, but the property offers rare potential for expansion, gardening, or outdoor space that is increasingly hard to find.
Its appeal lies in this untapped potential and a below-average assessed value, which suggests a potentially accessible entry point into the market. It would suit a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who sees the long-term value in the land itself and is willing to invest in the existing structure over time. This isn't a move-in-ready showcase; it's a foundational property where the real estate adage "buy the worst house on the best street" translates to "buy the average house on the largest lot."
Frequently Asked Questions
1. Is the low assessed value a good sign?
A lower assessed value can indicate a more affordable property tax burden, which is a positive for ongoing costs. However, it often reflects the home's age, condition, and smaller size relative to the lot. It represents a value opportunity but also signals that the dwelling itself may not be the primary source of value.
2. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is larger than 99% of comparable properties on Munroe Avenue and in the Munroe East area. You are purchasing a significant amount of land, which is a scarce commodity, rather than an above-average house.
3. What are the implications of a 77-year-old home?
While charming, a home built in 1949 will likely have older mechanical systems (like plumbing and electrical), windows, and insulation. Budgeting for updates and maintenance is essential. Its similar age to neighbors, however, means the character of the street is well-established.
4. Why is there no public sales history shown?
Detailed sale price history is not always publicly available in all jurisdictions. The listing service offers to provide this data manually via email to ensure accuracy and privacy for past transactions, which is a common practice for obtaining precise figures.
5. Can the house be expanded or rebuilt due to the large lot?
The substantial lot size certainly creates that potential, but any expansion or new construction would be subject to local zoning bylaws, setback requirements, and permitting. A key next step would be to consult with the city's planning department to understand the specific possibilities and limitations for the site.