Property Overview
This 1969 bi-level home at 50 Greyfriars Road in Fort Richmond presents a specific and practical opportunity. Its key appeal lies in the balance between a modest, renovated living space and a significantly larger-than-average lot. With 804 square feet of living area, the house itself is compact, ranking below average for size both on its street and in the wider neighbourhood. However, it sits on a 7,495 square foot lot, which places it in the top 14% citywide for land area. This creates a clear dynamic: a smaller, efficient home on a generous, private parcel of land. The detached garage adds functional storage or workshop space.
The property would suit a first-time buyer or downsizer looking for an affordable entry into the Fort Richmond area, prioritizing outdoor space and future potential over immediate square footage. It’s also a sensible fit for a hands-on owner who values a large yard for gardening, recreation, or future expansion, and who is comfortable with a home whose interior is efficient and straightforward rather than expansive. The renovated basement adds usable living space, enhancing the home’s functionality despite its smaller main footprint.
Frequently Asked Questions
Is this a small house?
Yes. With 804 sq ft of living area, it is notably smaller than most homes in Fort Richmond and on Greyfriars Road itself. The living space is efficient, with the renovated basement providing additional room.
What is the main advantage of this property?
The land. The lot size of nearly 7,500 sq ft is well above the city and neighbourhood averages. This offers substantial outdoor space, privacy, and potential that is uncommon for homes in this price range.
How does the assessed value compare?
The assessed value is around average for the city but below average for the immediate street and Fort Richmond area. This typically reflects the home's smaller size, while the land value provides a solid foundation for the assessment.
What might a buyer overlook at first glance?
The balance between house and lot. While the interior is compact, the large lot offers immediate quality of life through outdoor space and represents the property's long-term value driver, whether for personal use or future redevelopment.
Is the price history typical?
Recent sale data suggests values have been stable. The sale history shows a price range that aligns with the home’s profile as a land-value play with a modest dwelling, rather than following the trends of larger, standard-sized houses.