1462 Mcdermot Avenue W – Property Summary
Key Characteristics & Buyer Fit
This is a 1965-built home with 896 square feet of living space on a 2,657-square-foot lot. Its appeal is less about size and more about value and age relative to the surrounding area. While the living area ranks below citywide averages, the assessed value is notably strong within the Weston neighbourhood—ranking in the top 17% locally. This suggests the property holds or gains value well compared to nearby homes, even though it's smaller than many citywide comps. The year built (1965) places it newer than most homes on the street and in the neighbourhood, where averages hover around 1942 and 1937 respectively. The lot is on the smaller side, especially by citywide standards.
This home would suit a buyer who prioritizes neighbourhood value and a relatively newer build over square footage or a large yard. It’s a practical fit for someone looking for an efficiently sized home in a stable, older area where the property has already demonstrated above-average valuation. It may appeal less to buyers seeking substantial indoor space or a large lot for expansion, gardening, or recreation.
Frequently Asked Questions
1. How does the assessed value compare to the neighbourhood average?
The assessed value is $227,000, which is above the Weston neighbourhood average of $184,700. On the street itself, it ranks in the top 38%, meaning it’s on the higher end among nearby homes.
2. Is the small living area a concern for resale?
Living area is 896 sqft, smaller than the street, neighbourhood, and citywide averages. However, for resale, the stronger assessed value in this area may offset the square footage limitation—buyers in Weston may prioritize condition, age, and lot location over raw size.
3. How does the lot size compare to similar properties?
At 2,657 sqft, the lot is below average for the street (3,789 sqft) and citywide (6,570 sqft), but falls close to the neighbourhood median. It’s a compact lot typical of older urban infill areas, not suited for major additions or extensive landscaping.
4. Why is the property ranked “below average” citywide but “above average” locally?
Citywide comparisons include a much wider range of homes, including larger lots and newer builds, which pull averages higher. Within Weston, the home’s newer age and higher assessed value stand out more, making it a strong performer relative to its immediate surroundings.
5. Does the year built (1965) bring any advantages over older homes in the area?
Yes. Many nearby homes date from the 1930s and 1940s, so this property is newer than roughly 80% of homes on the street. That can mean different construction standards, potentially updated systems, and less deferred maintenance compared to much older stock—though a full inspection is still recommended.