535 Craig Street – Property Summary
Key Characteristics & Buyer Profile
This is a Wolseley home built in 1911 with 1,030 sq ft of living space and a notably large lot of 4,597 sq ft. While the living area is smaller than average across its street, neighbourhood, and city, the property stands out for two reasons: its land size and its assessed value.
On its own street, this lot is the largest—nearly double the street average. Within Wolseley, it ranks in the top 10% for land. The assessed value is also high: second on the street and well above both the neighbourhood and city medians, reflecting the land’s contribution to the overall valuation.
The appeal lies in the combination of a modest house footprint with significant outdoor space, in an older, established neighbourhood where larger lots are uncommon. This suits buyers who prioritize yard space, garden potential, or future redevelopment possibilities over interior square footage. It may also appeal to those interested in Wolseley’s character, where homes from the 1910s are typical and older construction is the norm. The house itself will likely require updating or a creative approach to make use of its compact layout.
Five Possible FAQs
1. Is the house small, or is the lot unusually large?
Both. The living area (1,030 sq ft) is on the smaller side for the area, but the lot (4,597 sq ft) is well above average for the street and neighbourhood. The property is effectively a smaller house on a generous piece of land.
2. How does the assessed value relate to the actual market price?
The assessed value (491,000) is high relative to comparable homes nearby, largely due to the lot size. This suggests the market value likely reflects the land more than the house itself. Keep in mind assessed value is one factor, but actual sale price depends on condition, updates, and market demand at the time.
3. What condition should I expect from a 1911 home?
Construction from that era can mean solid framing but also aging systems, possible knob-and-tube wiring, outdated plumbing, and less insulation. The data doesn’t include condition, so a thorough inspection is essential. Older homes often need more ongoing maintenance than newer builds.
4. Is this property a good candidate for renovation or expansion?
Possibly. The large lot provides space for an addition or redevelopment, but zoning, setback rules, and heritage considerations in Wolseley would need to be checked. A smaller house on a large lot can be appealing for a renovation project, but it’s not a blank slate.
5. How does the size compare to other homes in Wolseley?
The house is smaller than about 88% of homes in the neighbourhood, but the land is larger than about 90% of them. You’d be trading interior space for outdoor space compared to most nearby properties.