This is a 1,080-square-foot home built in 1909 on a 4,081-square-foot lot in the Wolseley neighbourhood. The house is smaller than most of its neighbours and the city average, and its assessed value of $271,000 sits well below the typical home on the street—ranking in the bottom 14% locally. The land, however, tells a different story. While the lot is smaller than many others on Greenwood Place, it’s substantially larger than the average Wolseley lot, placing it in the top 14% of the neighbourhood for land area. That means you get more outdoor space than most nearby properties, even if the house itself is modest.
The appeal here is a trade-off. You’re buying into a historic, walkable area known for its character homes and mature trees, but at a price point that reflects the smaller living space and older construction rather than a premium for the neighbourhood. This isn’t a move-in-ready showpiece. It’s a home that likely needs attention—or at least a buyer who appreciates an older structure and sees value in a low assessed value relative to the area. It would suit someone looking for a foothold in Wolseley without paying for a fully updated house, or someone interested in a renovation project where the lot itself carries weight. Buyers who want more square footage or a newer build should look elsewhere.
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Is this a teardown candidate?
Not necessarily. The house is old (1909) and the living area is small, but the lot is not oversized by Wolseley standards—it’s just large relative to the immediate neighbourhood. If you’re considering a rebuild, check zoning and any heritage restrictions in the area first. The value in the land is solid, but it’s not a corner lot or an unusually wide parcel.
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Why is the assessed value so low compared to the neighbourhood average?
Assessed value reflects recent sales of comparable homes, not replacement cost. This home’s smaller size and likely dated interior or systems bring the number down. It’s ranked in the bottom 14% on the street, which means you’re buying near the lower end of what’s available in Wolseley.
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How does the year built affect insurance or maintenance?
Homes from 1909 typically have older wiring, plumbing, and foundation materials. Some insurers may charge a premium or require an inspection. Budget for ongoing maintenance, especially windows, roof, and possibly knob-and-tube wiring if it hasn’t been updated. It’s not unusual for properties of this age in Wolseley, but it’s a factor to account for upfront.
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Is the small living area a dealbreaker for resale?
Not in this neighbourhood, if the space is well-used. Wolseley attracts buyers who prioritize location and character over square footage. That said, a 1,080-square-foot house will limit your buyer pool to singles, couples, or small families. Anyone needing multiple bedrooms or open-concept living may pass unless the layout feels larger than the number suggests.
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What’s the actual competition for this price point in Wolseley?
Properties under the $300,000 mark in Wolseley are uncommon. You’ll mostly find smaller bungalows or condos. This home’s main competition would be other older, smaller single-family houses on the west side of the neighbourhood, closer to Maryland or Sherburn. The lot gives it an edge over condos or townhouses in the same price range.