Property Overview & Key Characteristics

This one-and-a-half storey home at 295 Kent Road in East Elmwood is defined by a compelling contrast: a century-old house on an exceptionally large lot. Built in 1921, the 1,204 sqft living space is functional and features a renovated basement, but the property’s standout feature is its 8,258 sqft land area, which ranks in the top 1% of the neighbourhood. This creates a rare opportunity in a mature community.

The appeal lies in this generous outdoor space, offering potential for gardening, expansion, or simply ample room for play and recreation that is uncommon for the area. While the house itself is modest in size and age compared to local averages, its assessed value sits above the neighbourhood norm, suggesting the lot size is a significant contributor to its worth. It recently sold for $300k, aligning closely with its $280k assessment.

This property would best suit a buyer who values land over a turnkey, modern home. It’s ideal for a hands-on owner comfortable with the maintenance of a character home, a family prioritizing private outdoor space, or a long-term investor who sees value in the subdividable potential of such a large lot (subject to zoning).

Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped rooflines, often creating cozy bedrooms with unique character. Given its 1921 build date, expect classic layouts and possibly charming original details.

2. How significant is the lot size, really?
Very. At over 8,250 sqft, it’s more than 50% larger than the average lot in East Elmwood. This isn’t just a big yard; it’s a defining asset that offers privacy, space for additions like a garage or workshop, and future development potential that most nearby properties cannot match.

3. The home is older than most on the street. Should I be concerned?
The age (105 years) means proactive maintenance is key. While it has a renovated basement, a thorough inspection for the foundation, roof, wiring, and plumbing is essential. The upside is that older homes in established neighbourhoods often have solid bones and mature landscaping.

4. How does the recent sale price compare to the area?
The $300,000 sale price is above the neighbourhood's average assessed value, which is common for a live-market transaction. It indicates buyers were willing to pay a premium, likely for the unique lot size, as the living space itself is slightly below the local average.

5. Is there a garage or potential to build one?
The listing specifies no garage. However, the exceptional lot size provides a clear opportunity to add a detached garage or carport, subject to local zoning bylaws and setback requirements. This is a major advantage for buyers needing vehicle storage or workshop space.