118 Sherburn Street

Key Characteristics & Appeal

This is a 1926 home in the Wolseley neighbourhood with 900 sq. ft. of living space on a 3,012 sq. ft. lot. Its assessed value is $324,000.

The property’s main draw is its relative value within its immediate street context. While its living space is below average compared to nearby homes, its assessed value sits well above the street average—ranking in the top 13% on Sherburn Street. This suggests the home carries qualities (updates, location, or character) that the market prices higher than what square footage alone would predict. The house is also newer than the typical Wolseley home (built 1926 versus the neighbourhood average of 1916), which may appeal to buyers wanting a pre-war home with slightly less deferred age risk.

This property suits a buyer who values location and character over raw space. It would work well for someone looking to enter the Wolseley market at a price point that undercuts the neighbourhood average, or for a buyer who intends to renovate and sees the discrepancy between assessed value and square footage as untapped potential. It is less suitable for anyone needing large interior rooms or a generous lot.

Frequently Asked Questions

1. Is this a small house by Wolseley standards?
Yes. At 900 sq. ft., it ranks in the bottom 6% for living space within Wolseley (94th percentile for small size). But it’s important to note that Wolseley skews toward larger, older homes—so “small” here is relative. Many buyers come to Wolseley specifically for its variety of cottage-like houses on narrow lots.

2. Why is the assessed value high for the street but average for the neighbourhood?
The home’s assessed value ($324K) is well above the Sherburn Street average of $266K, suggesting it may be in better condition or have recent improvements compared to immediate neighbours. Within Wolseley as a whole, however, the average home value is $371K, so the property is actually priced below the neighbourhood norm—meaning it’s a relatively affordable entry point into the area.

3. How does the lot compare?
The lot is 3,012 sq. ft., which is typical for the street and close to the Wolseley average. It is well below the city-wide average (6,570 sq. ft.), but that’s expected in a central, walkable neighbourhood. The property likely has a modest front and back yard, not an oversized suburban lot.

4. Should I be concerned that the house is 1926?
Not necessarily. 1926 is actually newer than the median Wolseley home (built 1916), and the neighbourhood is known for durable pre-war construction. That said, any home of this age warrants a thorough inspection; systems (plumbing, electrical, foundation) may need updating even if the assessed value is strong. The key is to check whether the higher assessed value reflects true updates or just market position.

5. What kind of buyer usually looks at a home like this?
Typically, first-time buyers or downsizers who value Wolseley’s walkability, mature trees, and community feel but don’t need a lot of interior space. Also, investors or renovators who see potential in a home that’s priced below the neighbourhood average and on a street where values are generally lower. It’s a less obvious choice for families needing multiple bedrooms or large open-plan living.