Property Overview

This two-storey home on Mulvey Avenue in Earl Grey is a character property with solid fundamentals. Built in 1914, it offers 1,446 sqft of living space, which is notably above average for both the street and the neighbourhood. The lot is a standard city size for the area. Recent sales data shows strong value appreciation. The home has a basement, but it is not renovated, and there is no garage or pool. Its appeal lies in its spacious interior within a well-regarded, central neighbourhood, presenting a classic canvas for homeowners.

Key Characteristics & Suitability

The primary appeal of this property is its generous living area within a desirable, established neighbourhood. The home ranks in the top 15-22% for size on its street and in Earl Grey, meaning you get more interior space than most comparable local homes. While the structure itself is older, its assessed value is consistently above local averages, suggesting sound underlying value. The lot size is typical for the area, prioritizing a larger home footprint over extensive yard space.

This home would suit a buyer looking for character and space over modern turn-key finishes. It’s ideal for someone comfortable with a project, as the unrenovated basement represents clear potential for future expansion or customization. The lack of a garage is a trade-off for the central location. A thoughtful perspective is that this property offers a "value-density" play—you are acquiring more enclosed living space than is typical for the area, which is a efficient use of your investment on a standard city lot. It suits a practical buyer who sees the basement not as a drawback, but as the next chapter of the home’s story.

Frequently Asked Questions

1. What does the "above average" ranking for living area actually mean?
It means that compared to similar two-storey homes on Mulvey Avenue, this house’s square footage is greater than about 85% of them. In the broader Earl Grey neighbourhood, it’s larger than about 78% of peers. You are getting a notably spacious interior for the location.

2. The home was built in 1914. What should I be most concerned about?
While systems like wiring, plumbing, and insulation may have been updated over time, their age and current condition should be a top priority for inspection. The unrenovated basement also warrants a close look for moisture management and foundational integrity.

3. How significant is the lack of a garage?
This is a common feature of older homes in central neighbourhoods. It means relying on street parking, which requires consideration of local permit rules and winter parking bans. For some buyers, this is a worthwhile trade-off for the location and lot layout.

4. The assessed value seems low compared to the recent sale price. Why?
Municipal assessed value for taxation purposes often lags behind the current market. The recent sale price is a much more accurate reflection of the home’s present market value, as it reflects what a buyer was willing to pay in early 2024.

5. What is the potential here for future value?
The most direct path to increasing value would be a thoughtful renovation of the basement to add modern living space. Improving curb appeal and updating key mechanical systems would also protect and enhance the investment, given the already strong location and above-average home size.