176 Maryland Street

Here is a summary of the property at 176 Maryland Street, organized into two main sections for direct display.

1. Key Characteristics, Appeal & Buyer Profile

This is a home defined by its impressive scale and a strong trade-off between size and price. The standout feature is its 2,892 sqft of living space, which ranks in the top 2% on its street, the top 2% in the Wolseley neighbourhood, and the top 1% citywide. The lot is also generous, at 4,903 sqft, placing it among the largest on the street.

Its appeal lies in being an oversized, older home that currently carries a below-average price relative to its size. The assessed value ($361k) is around the neighbourhood and city average, meaning you are getting significantly more square footage for the typical price point in these areas. This suggests the home may need updates or interior work, as the valuation does not reflect the premium usually attached to such a large living area.

Who it suits: Buyers who prioritize interior space and lot size above all else. It will likely appeal to someone looking for a long-term renovation project with high upside potential, a large family that needs room to spread out, or an investor who sees the gap between the living area ranking (Top 2%) and the value ranking (Top 6% on the street) as an opportunity to build equity through improvements. It is less suited for someone seeking a move-in ready, turnkey home or a property with a highly modernized interior.

2. Five Possible FAQs

1. How does the assessed value compare to other homes with this much living space?
The property’s assessed value is considered around average for the neighbourhood and city, while the living area is in the top 1-2% citywide. This means you are paying a typical price for access to an unusually large home, which is uncommon. It suggests the interior condition, layout, or age might be the primary factors keeping the valuation from being higher.

2. Is the year built (1905) a major drawback, or does it add character?
The home is older than the neighbourhood average, but the quality of construction from that era is often excellent. The main considerations are likely mechanical systems (plumbing, electrical, heating) which may need updating, and potential design quirks like smaller closets or narrower hallways. The age is a factor in the lower assessed value, but for a buyer who values original details and solid bones, it can be a significant advantage that other homes lack.

3. Why is the lot size ranked "Elite" on the street but only "Above Average" in the neighbourhood?
The lot (4,903 sqft) is one of the largest on Maryland Street specifically, where most properties are smaller. However, Wolseley as a whole has a wider range of lot sizes, and the citywide average is actually larger (6,570 sqft). So, while the lot is fantastic for its immediate street, it is not unusually large compared to the broader neighbourhood or city—it is simply bigger than the typical infill or townhouse-sized lot found on this particular block.

4. What does the "Top 2%" living area ranking actually mean in practical terms?
It means this home is significantly larger than the vast majority of homes in Wolseley. A 2,892 sqft home offers room for a formal living room, a separate family room, a large eat-in kitchen, up to five or more bedrooms, and potentially a full basement with high ceilings. You will likely have far more space than a typical semi-detached or modern infill home, but you should also expect higher heating and maintenance costs.

5. Is this a good investment property or a family home?
It could work well as either, depending on the buyer’s goals. As a family home, the space is a clear draw. As an investment, the low assessed value relative to the square footage creates potential for a "forced appreciation" strategy—renovate the kitchen and bathrooms, improve the home’s efficiency, and the value could increase significantly without changing the size. However, the high cost of renovations on a nearly 3,000 sqft house means the profit margins depend heavily on a realistic budget.