1447 McDermot Avenue W – Property Summary
Key Characteristics & Buyer Profile
This is a compact 675 sqft single-family home on a 2,658 sqft lot, built in 1962. Its standout feature is the year built—it’s older than most homes on its street (top 19%) and in the neighbourhood (top 11%), which often signals solid construction and a well-established lot. The assessed value of $206k is around average for the street but above average for the Weston neighbourhood (top 28%), meaning you’re paying a premium relative to nearby homes, likely due to its age and location on the block rather than any recent renovations. The living area is notably smaller than the street average of 1,144 sqft, and the lot is also below average for both the street and city.
The appeal here is for a buyer who values a more modest footprint—perhaps a first-time homeowner, a downsizer, or someone looking for a lower-maintenance property with character from the early ’60s. The smaller size can mean lower utility costs and less upkeep, but the assessed value suggests the market already prices in the age advantage. It’s not a fixer-upper bargain; it’s a trade-off between square footage and the stability of an older home in an established area. Buyers should be comfortable with less interior space and understand that the lot, while manageable, won’t accommodate major expansions without variance.
Frequently Asked Questions
1. How does this property compare to others on McDermot Avenue?
It ranks near the bottom for living area (top 93%) and lot size (top 82%), but its year built is among the newest on the street (top 19%). Assessed value sits right in the middle (top 52%). So you’re getting a smaller, younger home that isn’t overpriced relative to street averages.
2. Is the assessed value of $206k a good deal for the area?
It’s above the Weston neighbourhood average of $184.7k, but below the citywide average of $390.1k. You’re paying more than most nearby homes, but the price gap isn’t extreme—it reflects the newer construction relative to the neighbourhood’s older stock.
3. What does “around average” or “top X%” actually mean for me as a buyer?
These rankings compare this property to similar homes in the same scope. “Top 19%” for year built means only 19% of homes on the street are newer—so yours is relatively recent for the area. “Top 93%” for living area means 93% are larger. It’s a quick way to see where a property stands without needing a full appraisal.
4. Can I renovate or add square footage later?
The lot is 2,658 sqft, which is below the street average of 3,789 sqft and city average of 6,570 sqft. Zoning and setback rules will limit expansion. A small addition or a bump-out might be possible, but don’t assume you can double the living area. Check with the city before planning major work.
5. How does the year built—1962—affect maintenance and character?
Homes from this era often have solid framing, plaster walls, and simple floor plans. You might see original hardwood under carpet, and the structure is generally more robust than 1990s builds. But expect older windows, wiring, and plumbing unless updated. The above-average assessed value suggests some of this has been addressed, but always verify with an inspection.