5 Deerfield Place – Property Summary
Key Characteristics & Buyer Profile
This is a 1,012 sqft home built in 1972 on Westdale, with a standout feature: a 13,247 sqft lot. While the living area is around average for the street and neighbourhood, and slightly below citywide medians, the lot size ranks in the top 1% locally and top 3% citywide. The assessed value of $382,000 is above the neighbourhood average of $307,400 (top 9%), reflecting the land's contribution.
The appeal here is space and privacy, not interior square footage. The large lot offers room for expansion, gardens, or outdoor living—rare in an established neighbourhood. The home’s age is typical for the area (1972), but it ranks first on the street in terms of year built, meaning it's one of the newest homes on Deerfield Place.
This property would suit buyers who want a solid, unremarkable home on a generous lot in a well-ranked neighbourhood. It’s less suited to someone seeking a large interior or a turnkey modern finish. Think of it as a land play with a functional house attached. Ideal for families looking to renovate, expand, or simply enjoy a big yard without leaving the city core.
Five Possible FAQs
1. The lot is large—what can I actually do with it?
At over a quarter-acre, the lot exceeds most Westdale properties. You may be able to add a garage, workshop, garden suite, or significantly expand the house, depending on zoning and permits. Check with the city for setbacks and lot coverage limits. It’s not raw land, but there’s room to work.
2. Why is the assessed value higher than the neighbourhood average?
The value is driven primarily by the land, not the house. The lot ranks in the top 1% locally, and larger lots typically carry higher assessed values. The house itself is modest, but the property as a whole competes well in the local market.
3. How does the living area compare to other homes in Westdale?
It’s around average—1,012 sqft versus a neighbourhood average of 1,029 sqft. You’re not losing or gaining much interior space compared to nearby homes. The house won’t feel cramped, but it also won’t stand out for its size.
4. Is this a good investment for a first-time buyer?
It depends on what you’re after. The home is affordable relative to citywide averages, and the lot gives you long-term upside. But if you need move-in-ready finishes or a large interior, there are better options. For someone willing to take on a renovation or wait for appreciation through land value, it’s a solid bet.
5. What’s the neighbourhood like in terms of year built and character?
Westdale homes average around 1971, so this one fits right in. It’s not an old historic area, but not new either. Expect mature trees, established streets, and a mix of original and updated homes. The street itself (Deerfield Place) has 11 comparable homes, with this one being the newest—meaning neighbours may be slightly older in age and style.