Property Overview

This one-storey home at 964 Beach Avenue in East Elmwood presents a specific and practical value proposition. Its key appeal lies in the balance between a modest, renovated living space and a generously sized lot for the area. With 704 sqft of living space, the house itself is compact, ranking below average in size for the neighborhood and city. However, this is offset by a nearly 5,000 sqft lot, which is notably larger than most on the street and in East Elmwood. The home features a renovated basement and a detached garage. Recent assessed values are around the local average, suggesting a stable, entry-level point in the market.

This property would suit a first-time buyer, a downsizer, or an investor looking for a manageable footprint with land potential. Its appeal is for those who prioritize lot size over interior square footage, seeing value in outdoor space, garden potential, or future expansion possibilities. It’s a home for someone comfortable with a cozy interior layout who values the flexibility that a larger parcel of land provides in a mature neighborhood.

Frequently Asked Questions

1. Is the house too small?
At 704 sqft, the living area is compact and below the local average. The renovated basement provides additional functional space. This layout suits those looking for a manageable, efficient home without excess square footage to maintain.

2. What is the real advantage of the lot size?
The nearly 5,000 sqft lot is a standout feature for this street. It offers significant outdoor space for gardening, recreation, or storage, which is less common for homes in this price range and area. It also provides a tangible option for future additions, like a shed, deck, or even an extension, subject to zoning.

3. How does the assessed value compare to the likely sale price?
The current assessed value is around $24,300, which is typical for the immediate area. It’s important to note that assessed value for tax purposes is not a market appraisal. Recent sale prices on the street provide a more current market reference, with a home here selling for $25,300 in 2021.

4. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should clarify the finish quality, ceiling height, legal egress, and whether it includes a bathroom or kitchenette to understand its full utility and value.

5. Is this a good investment for the neighborhood?
East Elmwood is a stable, mature neighborhood. The property’s value proposition is its land. While the house is smaller and older (built in 1954), the combination of a renovated interior and an above-average lot size for the area could offer solid long-term value, especially for a buyer willing to further improve or utilize the outdoor space.