Property Overview
This 1,200 sqft, one-and-three-quarter storey home on Dufferin Avenue is a character property with practical considerations. Built in 1906, it sits on a 3,676 sqft lot in the Dufferin Industrial area. The home has a basement, but it is noted as not being renovated, and there is no garage or pool. Its key appeal lies in its above-average living space for the immediate area and its very low municipal assessed value of $90k, which suggests potential for value growth or a manageable tax base. It last sold in May 2017 for $8,400.
Key Characteristics & Suitability
The primary draw of this property is its position as a substantial, older home in an industrial-zone neighbourhood, offering a distinct value proposition. Its living area is notably larger than many neighbouring homes, providing more interior space than is typical for the area. The extremely low assessed value is a double-edged sword: it indicates very modest property taxes, but also reflects the home's current state and its location within an industrial setting rather than a residential one.
This home would suit a specific type of buyer. It is ideal for an investor, handyperson, or someone seeking an affordable entry into the market with a high tolerance for improvement projects. The unrenovated basement and age of the home imply immediate work may be needed. It would also appeal to a buyer whose priority is maximizing interior square footage on a tight budget, and who is less concerned with traditional residential amenities like a garage or a suburban lot size. The industrial neighbourhood context means it is less suited for buyers seeking a quiet, family-oriented street.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Municipal assessments are based on market value and property characteristics. The low assessment primarily reflects the home's location within an industrial zoning district and its condition, not just the building itself.
2. What does "one-and-three-quarter storey" mean for the layout?
This is a common architectural style for homes of this era. It typically means the second floor has full-height ceilings in the center of the house, with sloped ceilings and potentially smaller rooms under the eaves, offering unique character but sometimes less conventional room shapes.
3. Are there any concerns with a 120-year-old home?
Absolutely. While it offers charm, buyers should budget for and investigate potential issues common to century-old homes, such as the state of the foundation, wiring, plumbing, and insulation. The unrenovated basement warrants a particularly thorough inspection.
4. What are the implications of being in an "Industrial" neighbourhood?
This typically means the area is zoned for mixed commercial, light industrial, and residential use. Buyers should anticipate the possibility of nearby business activity, truck traffic, or noise, which is a key factor in the property's affordability and assessed value.
5. The last sale price was $8,400 in 2017. What does that indicate?
A sale price that low, well below even the current low assessed value, often indicates a non-arms-length transaction (such as between family members) or a sale that included other considerations not reflected in the price. It should not be used as a direct benchmark for the home's current market value.