488 Sumach Street – Property Summary
Key Characteristics & Suitability
This is a 1954-built home with 864 square feet of living space on a 5,529-square-foot lot. Compared to others on Sumach Street and across the Westwood neighbourhood, the house is smaller and older than average. Its assessed value of $271,000 also falls below the local and city medians. The lot size sits near the middle of the pack for the street, but is slightly small relative to the broader neighbourhood.
The appeal here isn’t about standout size or modern finishes—it’s about entry-level pricing in an established area. Buyers who are priced out of larger or newer homes in Westwood may find this property accessible. The lower assessment could also mean proportionally lower property taxes, which matters for budget-conscious buyers. That said, the numbers suggest this is a fixer-upper or a starter home where sweat equity could add value over time.
This property suits first-time buyers looking to get into a stable residential neighbourhood without overextending, or investors seeking a lower-cost entry point in a community with mostly larger, pricier homes. It’s less likely to appeal to someone looking for a move-in-ready or comparably sized home relative to the area.
Five Possible FAQs
1. How does the property size compare to others nearby?
On Sumach Street, it ranks 29th out of 35 homes for living area—well below the street average of 1,081 sqft. It’s also in the bottom percentile for the Westwood neighbourhood, where average living space is around 1,372 sqft. The lot is closer to average for the street but small for the area.
2. Is this a good option for a first-time buyer?
Probably yes, especially if budget is the main constraint. The home’s lower assessed value and smaller size mean it’s likely priced below many other homes in Westwood. It’s the kind of property where you’re buying into the location, not the square footage.
3. What does the assessed value tell me about taxes?
The assessed value is $271,000—below the street average of $320,000 and well under the community average of $392,000. Property taxes are based on this assessment, so they should be lower than what you’d pay for a typical home in the area. Check the current mill rate for exact numbers.
4. Should I be concerned about the age of the home?
The house was built in 1954, which is older than most on the street and in Westwood. That means you should budget for updates to systems like plumbing, electrical, or insulation. On the plus side, older homes on larger lots in this neighbourhood can hold value if maintained.
5. Is the lot big enough for additions or landscaping?
At 5,529 sqft, the lot is near the middle of the street but smaller than the Westwood average of 6,491 sqft. There may be room for a modest addition or a decent backyard, but you’ll want to check zoning and setback rules before planning anything major. It’s not a oversized lot, but it’s not tiny either.