Property Overview
This home at 206 Braemar Avenue in Norwood East presents a specific and practical value proposition. Built in 1914, it's a century-old property with 1,040 sqft of living space on a 3,087 sqft lot. Its assessed value of $291,000 sits below the average for its immediate street and the wider city, indicating a potentially more accessible entry point into the market. The home's appeal lies in its position as a smaller, character home in an established neighbourhood, likely requiring a buyer comfortable with the realities and charm of an older structure. It would suit a first-time buyer, an investor, or someone looking to downsize who prioritizes location over size and is prepared for the maintenance or updates a 112-year-old home may need. A thoughtful perspective is that its smaller lot and footprint could mean lower maintenance costs and less outdoor upkeep, which some buyers may see as a benefit rather than a drawback.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $291,000 is for municipal tax purposes and serves as a benchmark. The last known sale was between $300k-$350k in mid-2021. The final market price will be determined by current condition, updates since the last sale, and market demand.
2. What should I consider with a home built in 1914?
While offering character, a home of this age requires careful attention to foundational integrity, plumbing, electrical systems (which may have been updated over time), and insulation. A thorough, specialized inspection is highly recommended to understand the home's true condition and any needed repairs.
3. The lot size is noted as being below average. What does this mean practically?
At 3,087 sqft, the yard is compact compared to many city lots. This limits expansive gardening or large additions but also means less yard work and potentially lower landscaping costs. It's a trade-off that suits those seeking lower maintenance outdoor space.
4. How does this property compare to others in Norwood East?
The data shows this home's living area is around the neighbourhood average, but its lot size and assessed value are below the area average. This suggests it's a more modestly sized property on a smaller lot within the community, which can be reflected in its valuation.
5. How can I verify the exact historical sale prices?
The site provides sold price ranges for reference. To obtain fully verified and exact sale figures, you must request a manual lookup by email, as this information is not sourced from the MLS system.