Property Overview & Key Characteristics
823 Dufferin Avenue is a classic two-storey home built in 1909, offering a blend of historic character and practical updates. Its primary appeal lies in its above-average living space for the immediate area—at 1,280 sqft, it provides more room than most comparable homes on the street and in the Dufferin neighbourhood. A key feature is the renovated basement, which adds functional living space. The property sits on a standard city lot of 3,678 sqft.
This home would suit a practical, value-conscious buyer. It's ideal for someone seeking a character home without the premium price tag of a fully modernized property, or for an investor looking at the long-term potential of a well-located, older home. The data suggests it offers more interior space than many neighbours, which is a significant advantage, but buyers should be prepared for the realities of a 117-year-old structure. Its assessed value is notably below both neighbourhood and city averages, which can indicate a lower property tax burden but also suggests the home may require ongoing updates.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
The living area is a standout feature. At 1,280 sqft, it is larger than about 83% of similar homes on Dufferin Avenue and 75% in the broader Dufferin neighbourhood, offering more space than is typical for the area.
2. What does the below-average assessed value mean for a buyer?
A lower assessed value generally translates to lower annual property taxes, which is a financial positive. However, it can also reflect the home’s age and condition relative to other properties, so a thorough inspection is crucial to understand any needed investments.
3. Is the renovated basement a full suite?
The listing notes a renovated basement but does not specify if it is a legal suite with a separate entrance. Buyers should verify the renovation permits and the basement’s legal compliance for their intended use.
4. What are the implications of the 1909 build date?
While the home has historic charm, it likely requires careful attention to aging components like wiring, plumbing, and insulation. The recent basement renovation is a positive update, but the overall structure is over a century old.
5. How does the recent sale price relate to the assessed value?
The home sold for $9,600 in March 2024, which is very close to its $9,400 assessed value. This alignment is unusual in many markets and suggests the sale may have been a non-arms-length transaction or transfer, not necessarily reflecting the open market value. Independent appraisal is advised.