Property Overview: 884 Selkirk Avenue
Key Characteristics & Buyer Profile
This is a compact, one-storey home built in 1911, featuring a renovated basement and a detached garage. Its key characteristic is its modest scale, with 660 sqft of living space, which is notably smaller than most homes in the area and city. The lot size of 3,040 sqft is manageable and typical for the immediate street. A significant point of appeal is its financial profile within the local context: while the home itself is small, its assessed value is strong for the Dufferin neighbourhood, ranking well above the local average. This suggests it may be viewed as a solid, value-holding asset in its specific community. The renovated basement adds functional living space, a crucial upgrade for a home of this size.
The property would suit a specific type of buyer: first-time homebuyers or investors seeking an affordable entry point into the market who prioritize location and lot value over interior square footage. It’s for someone comfortable with a cozy layout who sees potential in the existing renovation and the detached garage. A thoughtful perspective is that this home represents a "land and location" play with a liveable structure, rather than a "space and size" purchase. Its appeal is grounded in practicality and neighbourhood-level value, not grandeur.
Frequently Asked Questions
1. How does the small living area impact daily life and resale?
The 660 sqft layout requires efficient use of space and may not suit those needing multiple bedrooms or dedicated work-from-home areas. However, the renovated basement effectively expands usable space. For resale, it attracts a specific, budget-conscious market segment.
2. The assessed value seems high for a small home. Why is that?
The assessment ranks highly within the Dufferin neighbourhood, indicating that for its specific location, it holds proportionally strong value. This often reflects the lot value, the condition of the home (including the renovated basement), and sales of comparable properties in the immediate area.
3. What are the implications of the home being over 110 years old?
While the structure has proven durability, prospective buyers should prioritize a thorough inspection for aging components like wiring, plumbing, and the foundation. The renovated basement is a positive sign of updates.
4. Is the detached garage a significant advantage?
Yes, especially in an older neighbourhood where on-site parking and storage can be limited. It provides secure parking and valuable extra storage space, which is a practical asset not all neighbouring properties may have.
5. How does the last sale price (190k in 2021) relate to the current assessed value?
The assessed value for taxation purposes (listed as 19.40k) is not a market valuation. The 2021 sale price gives a historical market benchmark. Current market value would depend on present conditions, recent comparable sales, and any further updates made to the property since then.