Property Overview & Appeal

This one-storey home in Elm Park presents a practical opportunity in a well-established neighbourhood. Its key characteristic is balance: with an assessed value of $350,000, it sits squarely in the average range for its street and area, offering a manageable entry point into the market. The living space (906 sq ft) is compact, placing it below the local average, which suggests a focus on efficient living rather than expansiveness. A significant positive is the renovated basement, adding functional space. The detached garage and a land area just over 5,400 sq ft provide valuable outdoor utility and potential.

The appeal lies in its grounded positioning. It’s not the largest or newest home, but it offers solid fundamentals in a mature neighbourhood. It would suit first-time buyers or downsizers seeking a low-maintenance, single-level layout without a premium price tag. A thoughtful perspective is that a smaller, updated home on a decent lot can represent a smarter long-term hold than a larger, unrenovated property at a similar price, as it limits immediate capital demands while preserving land value.

Frequently Asked Questions

1. Is the house too small compared to others in Elm Park?
At 906 sq ft, the living area is below the neighbourhood average. This makes it a more compact option, ideal for those who prioritize efficient use of space and lower utility costs over square footage.

2. How does the assessed value compare to the last sale price?
The property was last sold in November 2020 for $346,000. The current assessed value of $350,000 is consistent with that sale price, indicating stable value in line with market trends over that period.

3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent to understand the finish quality and whether it includes legal secondary suites or simply finished living space.

4. Given the age of the home (built 1941), what should I be concerned about?
While systems like roofing, plumbing, and electrical may have been updated over time, a pre-purchase inspection is essential for a home of this age to assess the condition of the foundation, wiring, and any original components.

5. How does the lot size impact potential?
The lot is just under 5,500 sq ft, which is slightly below average for the street but typical for the area. It provides adequate private outdoor space and room for a garden or shed, but may have limitations for large additions, depending on zoning bylaws.