Property Summary: 402 Yale Avenue E

Key Characteristics & Buyer Profile

This is a 1962-built home with 870 sq ft of living space on a 3,300 sq ft lot, currently assessed at $287,000. Its strongest attribute is the construction year — it’s newer than 90% of homes on the same street and 86% in the Kern Park neighbourhood, where many surrounding houses date back to the late 1930s and 1940s. This makes it a relatively modern option in an older, established area.

The living space and lot size are both below average across the street, neighbourhood, and city. The assessed value sits close to the Kern Park average ($288,000) but well below the street and city averages. In other words, you’re paying a neighbourhood-typical price for a house that is newer, but smaller in both footprint and land, than most nearby comparables.

This property would appeal most to a buyer who prioritizes a newer build in a mature neighbourhood, and who doesn’t need a large home or yard. It may suit a downsizer, a first-time buyer, or someone who values location and construction quality over square footage. It’s less suited to a buyer looking for space, a large lot for additions, or for an investment property where low land-to-building ratio limits expansion potential.

Five Possible FAQs

1. How does this property compare to others on Yale Avenue E?
It ranks in the top 10% for newer construction, but is below average in living area (ranking 254th out of 330) and lot size (265th out of 330). Assessed value is close to the middle of the street (227th). So it stands out for being relatively new, but it’s one of the smaller homes on the street.

2. Is the assessed value unusually low for a 1962 house?
Not in this neighbourhood. While the citywide average for assessed value is $390,000, Kern Park’s average is $288,000 — nearly identical to this property’s $287,000. The house is priced in line with its immediate community, even though it’s newer than most nearby homes.

3. Why is the living area so much smaller than the street average?
The street average for living space is 1,539 sq ft, while this home is 870 sq ft. Yale Avenue E has many older, larger houses, so a 1962 bungalow or smaller split-level would naturally fall short of that average. This isn’t unusual for a mid-century home in an area dominated by pre-war housing stock.

4. What are the limitations of a 3,300 sq ft lot?
The lot is small by all standards — smaller than 80% of lots on the street and 83% citywide. This limits opportunities for major additions, a garage, or a large garden. It’s better suited to low-maintenance living than to buyers who want space for expansion or outdoor activities.

5. Is Kern Park a sought-after area for this type of home?
Kern Park is an older, established neighbourhood with a mix of pre-war and mid-century homes. A 1962 house is one of the newer ones in the area. It may appeal to buyers who want a more modern home without leaving a central, mature community. However, the smaller size and lot may make resale less flexible if future buyers prioritize space over age.