544 Newman Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,326-square-foot home in Wolseley, built in 1905, sitting on a 2,952-square-foot lot. Its assessed value is $271,000.
The living area is noticeably larger than most homes on Newman Street (top 10%), but the lot is smaller than the street average. The assessed value is below the street, neighbourhood, and city averages—meaning it’s priced lower than many comparable homes nearby, which could offer some room for a buyer looking to build equity or negotiate.
The house is old, even by Wolseley standards. That puts it in a category where maintenance history and updates matter a lot. A buyer here should be comfortable with an older home’s character (thick trim, solid bones, established street) but also realistic about potential upgrades to systems, insulation, or foundation work.
This property would suit:
- A buyer who wants to be in Wolseley but is priced out of the more expensive, fully renovated homes on the block.
- Someone who values interior space over yard size.
- A person willing to invest sweat equity or a renovation budget into a home with good basic proportions.
- Not ideal for someone wanting a move-in-ready, low-maintenance newer build or a large lot for gardening or expansion.
Five Possible FAQs
1. How does this house compare to others on Newman Street?
It has more living space than most (top 10%) but sits on a smaller lot (bottom 24%). The assessed value is lower than average for the street, which often reflects a less updated interior or older systems.
2. Is the assessed value a good indicator of the sale price?
Not directly. Assessed value is a market estimate used for property taxes. In a desirable neighbourhood like Wolseley, a home with below-average assessed value might still sell for more if the location and size attract multiple offers—or less if it needs significant work.
3. What should I look out for with a house built in 1905?
Older homes in this area often have original knob-and-tube wiring, lead or galvanized plumbing, and may need foundation or roof work. The year built ranking (bottom 1% on the street) suggests this is one of the older houses—renovation records and recent updates are worth verifying.
4. How does the lot size affect what I can do with the property?
At just under 3,000 square feet, the lot is typical for Wolseley overall but smaller than the Newman Street average. You likely have room for a small garden or patio, but little space for an addition or detached garage without rezoning or a variance.
5. Is this a good entry point into Wolseley?
Yes, if you’re comfortable with an older home and potentially doing work over time. The lower assessed value relative to neighbours means your property taxes may be lower, but the trade-off is that the house may not appreciate as quickly as fully updated homes unless you invest in improvements.