18 Coleridge Park Drive

18 Coleridge Park Drive – Property Summary

Key Characteristics & Ideal Buyer Profile

This property stands out most for its land and assessed value metrics, which rank in the top 2% citywide for lot size and top 2% within the Westwood neighbourhood for value. Built in 1973, the home sits on a generous 14,400 sqft lot—well above the street average of 9,143 sqft. With 2,154 sqft of living area, it's slightly larger than typical homes on Coleridge Park Drive, though the interior size is less exceptional relative to top-tier citywide homes. The assessed value of $645,000 reflects strong demand for larger lots in an established area, placing it in the top 6% citywide.

The appeal here is less about turnkey modern finishes and more about space, privacy, and upside potential. Buyers drawn to this property tend to value outdoor room—gardening, expansion, or simply breathing room—over a fully updated interior. The lot alone positions it favourably compared to newer infills on tighter plots. It would suit a family or individual looking for a solid home on a substantial parcel in a mature neighbourhood, with the flexibility to renovate or rebuild over time. Less obvious: this property's land-to-value ratio (land making up a higher share of total value than typical in the area) suggests the structure may be considered secondary, which can appeal to those more interested in location and land banking.

Frequently Asked Questions

1. How does the land size here actually compare to homes nearby?
   On Coleridge Park Drive, average lot sizes are around 9,143 sqft, so this property is roughly 57% larger. In Westwood more broadly, the average drops to 6,491 sqft, meaning this lot is more than double the neighbourhood typical. Citywide, it's in the top 2% for land area among comparable homes.

2. Is the assessed value of $645,000 a realistic market indicator?
   Assessed value is a benchmark used for property tax calculation, not a guaranteed sale price. However, the ranking (top 6% citywide, top 2% in Westwood) suggests strong underlying demand for this parcel's combination of size and location. It's worth comparing to recent sales on similar lots, not just the assessed figure.

3. Why is the year built (1973) less important here than usual?
   For a home on this land size, the structure's age often matters less because the property's value is heavily weighted toward the land. While the home itself is mid-weight in age citywide (top 43%), the lot is elite (top 2%). Buyers frequently factor in renovation or replacement costs separately.

4. Does a ranking of "elite" in the neighbourhood mean the area is uniformly high-value?
   Not necessarily. Westwood has a wide range of properties. This home's ranking (top 2% by assessed value) reflects its specific parcel and home, not the entire neighbourhood. It means within Westwood, this property is in a very strong position relative to its peers, but nearby homes may be more modest.

5. What kind of buyer typically competes for a property like this?
   Usually, it's a mix of established buyers looking to downsize onto a level lot they can maintain easily, and buyers planning a major renovation or custom build who want an existing structure to live in during planning. Investors may also be interested, but the property's size and tax profile generally appeal more to end-users than flippers.