Property Overview: 845 Dufferin Avenue
Key Characteristics & Appeal
This home is defined by a compelling contrast. It is a historic, one-and-three-quarter storey house built in 1905, offering 1,296 sqft of living space. Its most standout feature is the generous 7,356 sqft lot, which ranks in the top 5% on its street and top 14% citywide, providing exceptional outdoor space and potential in a mature neighbourhood. The home presents as a solid, unrenovated canvas with a basement that has not been updated and no garage.
Its appeal lies in this balance of opportunity and established value. The very low municipal assessed value reflects its original condition and creates a specific financial proposition, likely attracting buyers interested in value-based purchasing rather than assessed price comparisons. It suits hands-on buyers looking for a character home with ample yard space to shape to their own vision, or investors seeking a property with significant land value in a long-established area. It’s a property for those who see potential in the land and the structure’s solid bones, rather than a turn-key solution.
Frequently Asked Questions
Q: The assessed value seems very low compared to city averages. What does this mean?
A: The municipal assessed value is for tax purposes and often lags behind market value, especially for older homes in original condition. This low assessment typically indicates the home has not been significantly renovated or updated in many years, and taxes may be relatively lower as a result.
Q: What does "one & 3/4 storey" mean for the layout?
A: This is a common style for homes of this era. It typically means the second floor has sloped ceilings (following the roof line) with full-height walls only in the center of the rooms, creating cozy, character-filled bedrooms.
Q: The lot size is noted as a top feature. What are the possibilities?
A: A lot of this size (over 1/6 of an acre) in an established neighbourhood is rare. It offers ample space for gardening, recreation, adding a detached garage or workshop, or even future expansion, subject to local zoning bylaws.
Q: What should I budget for beyond the purchase price?
A: Given the age and unrenovated state, a thorough inspection is crucial. Buyers should be prepared for ongoing maintenance and potential updates to major systems like plumbing, wiring, or heating, which are common considerations for a home from 1905.
Q: How does the 2016 sale price relate to today's likely value?
A: The 2016 sale is a historical data point. Current market value will be driven by present market conditions, the property’s unique lot size, and its condition. It’s best used as a reference for how the property has been positioned historically, not as a direct indicator of current worth.