55 Longfellow Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,738-square-foot home on a 7,799-square-foot lot, built in 1969. Its most striking feature is how its value compares to its size. The assessed value places it in the top 17% on its street and the top 4% in the Westwood neighbourhood—far stronger than what the living area alone would suggest. The house is smaller than the street average (2,015 sqft), but its lot is also slightly smaller than the street average (8,310 sqft). However, both lot and living area are well above neighbourhood and citywide averages. This means you’re paying for land and location more than square footage.
The appeal here is subtle. It’s not a “bigger is better” asset. Instead, the property punches above its weight in assessed value, likely due to factors like condition, updates, or a desirable position within the block. A buyer who values a solid lot in a top-ranked Westwood pocket—where land values are high—would find this interesting. It suits someone who wants a home that’s not oversized but sits on a generous inner-city lot, and who understands that value in this area comes from land, not just floor plan. It’s less suitable for a buyer fixated on maximum interior space.
Five Possible FAQs
1. Why is the assessed value so much higher than the street average when the house is smaller?
Assessed value reflects market factors beyond just square footage—condition, renovations, lot desirability, and recent neighbourhood sales all play a role. This property is smaller than the street average but ranks in the top 17% for value, which suggests it may be in better shape or in a particularly sought-after part of the block.
2. How does the lot size affect usability?
The lot is slightly below the street average (7,799 sqft vs. 8,310 sqft) but still well above neighbourhood and citywide averages. That means you get a generous yard for this part of Westwood, even if it’s not the biggest on the street. For someone wanting garden space, a garage, or room for an addition, it’s a strong candidate.
3. Is this a good investment for a fixer-upper?
That depends on the home’s current condition, which isn’t specified here. The high assessed value relative to the street suggests it may already be well-maintained or updated, so there may be less “forced appreciation” opportunity than buying a fixer on the same street. You’d want a home inspection to confirm.
4. How does the year built (1969) affect maintenance or resale?
The home is newer than many in the neighbourhood (average 1966) but not exceptionally so. At over 50 years old, expect typical issues of a home from that era—older windows, insulation, wiring, and plumbing. The neighbourhood average year built is similar, so resale won’t be penalized for age. The top 8% rank for year built in the area is a mild plus.
5. How does this property compare to others on Longfellow Bay?
It ranks 21st out of 24 homes for living area (bottom quarter of the street), but 4th for assessed value (top 17%). That’s a notable disconnect. The street has larger homes on average, but this one holds its value better than most of them—likely because of land, condition, or location within the street. You’re not buying a “big” house; you’re buying a well-positioned one.