1473 Lincoln Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 728 sqft home built in 1949 on a 3,553 sqft lot, with an assessed value of $181,000. Its standout feature is its age and lot size relative to the immediate street. On Lincoln Avenue, it ranks in the top 13% for year built and top 28% for land area, meaning it’s both newer and sits on a larger-than-average piece of land compared to neighbours. The living area, however, is on the smaller side for both the street and the Weston neighbourhood, and well below citywide averages. The assessed value is close to the neighbourhood median, which suggests the price reflects local norms rather than any premium for size or age.
The appeal here is not square footage but character and outdoor space. A post-war home on a bigger lot in an established area often appeals to buyers who value a solid structure, a manageable yard, and a street with older homes that have some history. It could suit first-time buyers looking for something modest but with room to expand or landscape, or someone downsizing from a larger house but unwilling to settle for a cookie-cutter condo. The data also suggests this property is priced competitively for the area—not undervalued, but not overreaching either. That can be reassuring for buyers cautious about overpaying in a market where many homes trade above neighbourhood benchmarks.
Five Frequently Asked Questions
1. How does the small living area affect resale value?
It’s a trade-off. Smaller living areas usually mean lower price per square foot, but a larger lot can offset that if the buyer sees potential for an addition or extension. In this case, the assessed value aligns with the neighbourhood, so it’s already priced for its current footprint. Future value will depend on whether the lot’s extra space is actually usable.
2. Is a 1949 home likely to need major updates?
Older homes often have solid bones but may need updated electrical, plumbing, or insulation. 1949 is post-war, so construction quality is generally better than pre-war but can still have original systems. A home inspection focused on the furnace, wiring, and foundation is wise. The good news is that a newer roof or windows would be less urgent if the house has been maintained.
3. What does “ranked #76 out of 126 on the street” mean in practical terms?
It means there are 75 homes on Lincoln Avenue with larger living areas, and 50 with smaller ones. It’s not a red flag; it just confirms this home is on the snugger end. The same ranking logic applies to lot size and year built. The street-level rankings are the most useful for comparisons because they reflect actual neighbours, not broad city data.
4. Why is the citywide assessed value average so much higher ($390k vs $181k)?
Citywide averages include much larger homes in pricier districts. This property sits in Weston, where values are lower. The assessed value is pegged to local sales and neighbourhood conditions, so a citywide comparison is interesting but not directly relevant for pricing. The street and neighbourhood numbers are the ones that matter.
5. Could this be a good investment for a renovation or addition?
Possibly. The larger land area gives you more options than most homes on the street. But check zoning rules for Westons first—some older neighbourhoods have lot coverage limits or setback requirements that restrict additions. A small expansion or finishing a basement could make sense. Renovating just to increase living area might not recoup costs unless the kitchen and bathrooms are already outdated.