506 Newman Street

506 Newman Street, Wolseley

Key Characteristics & Suitability

This 1909 home on Newman Street offers a solid living area of 1,580 square feet, which is well above the street average and places it in the top 5% of homes on that block. Its assessed value of $440,000 also ranks in the top 5% on the street, reflecting the property’s above-average size and finish relative to its direct neighbours. However, the lot is relatively compact at 3,098 square feet, and the home itself is older than most others on the street and throughout the city.

The property’s appeal lies in its combination of generous interior space and a desirable, established street within the Wolseley neighbourhood. Wolseley is known for its tree-lined streets, older character homes, and walkable access to shops, parks, and the river. While the lot is smaller than typical for the area, the home’s interior square footage is a clear standout—especially compared to other century-old homes in the same price bracket.

This property would suit a buyer who prioritises interior living space and a prime street over a large yard. It is a strong fit for someone who values the character and convenience of an older, central neighbourhood and is comfortable with the maintenance that comes with a home built in 1909. It may be less ideal for buyers seeking a newer build or a large private lot.

Frequently Asked Questions

1. How does the home’s age compare to others in the area?
   Built in 1909, it is older than roughly 96% of homes on Newman Street and 95% of homes citywide. The median build year on the street is 1947, and in the neighbourhood it is 1916, so this property is among the older ones in the immediate area.

2. Is the assessed value aligned with the home’s condition?
   The assessed value of $440,000 is based on market conditions and property characteristics as of the assessment date. Rankings place it in the top 5% on the street and top 20% in the neighbourhood, which typically reflects above-average size, condition, or location—but an inspection is the best way to confirm physical condition.

3. Why is the lot size considered below average?
   At 3,098 square feet, the lot is smaller than about 73% of lots on Newman Street and 86% citywide. This is common for older, infill-style homes in central neighbourhoods, where lots were often subdivided earlier or built on narrower plots.

4. What does the neighbourhood analysis map show?
   The map allows you to see this property’s lot, living area, assessed value, and year built alongside nearby homes. It provides context for the rankings—showing, for example, how the living area compares to similar homes a few doors away, and whether the value aligns with the street’s overall pattern.

5. Is this property suitable for a family?
   With 1,580 square feet of living space, it offers enough room for a small to medium-sized family. The smaller lot means limited outdoor space, so it works best for families who prioritise indoor space and neighbourhood amenities over a large yard. Proximity to schools and parks in Wolseley is a plus.