Property Overview

This is a compact, 810-square-foot home built in 1978, with a land area of roughly 3,079 square feet and an assessed value around $308,000. Its appeal lies in its modest size and older construction, which set it apart from the much larger, newer homes dominating the surrounding neighbourhood. The property ranks in the bottom 2% for living area within River Park South, and the home itself is older than the vast majority of nearby houses—a fact that may appeal to buyers wary of the premium often attached to newer builds. Similarly, the lot is smaller than most in the area, meaning the property offers less indoor and outdoor space than neighbours, but likely at a lower entry price.

Buyers most suited to this property are those prioritizing affordability and location over square footage. It would work well for a single person or couple who value being in a desirable area without paying for space they don’t need. It may also appeal to an investor looking for a smaller, older home on a standard lot in a sought-after neighbourhood, or someone willing to renovate and build equity by increasing the home’s value relative to its assessement. Because the home is old for the area, mechanical and structural updates are worth investigating—this could be either a drawback or an opportunity, depending on what’s already been done.

Frequently Asked Questions

1. How does this home’s value compare to its neighbours?
At roughly $308,000 assessed, this property is below average for its street and well below the median for River Park South, where the average home size is 1,410 square feet and values are correspondingly higher. The low assessed value relative to the area suggests it may be one of the more affordable entry points in the neighbourhood.

2. Is the small living area a dealbreaker for resale?
Not necessarily—but it depends on the market. In River Park South, the average home is nearly 600 square feet larger, which may make this property a niche choice. However, in a city where the average living area is 1,342 square feet, an 810-square-foot home is small but not unheard of. The key is whether the location and price appeal to buyers who prioritize those factors over space.

3. What should I look for in a home built in 1978?
Be prepared for systems that may be original or nearing end-of-life: HVAC, electrical panel, windows, and roof. 1978 also predates many modern insulation and energy-efficiency standards. That said, older homes in this price range can offer solid bones if maintained. A thorough home inspection is recommended, with special attention to dated mechanicals and potential moisture issues in the basement.

4. How does the lot size affect use of the property?
The 3,079-square-foot lot is below average for the neighbourhood and citywide. Expect a modest yard with limited space for expansion, gardens, or outdoor structures. If you’re looking for a large backyard, this property won’t deliver—but the smaller lot typically means less maintenance and a lower purchase price relative to nearby homes.

5. Is this property a good candidate for renovation or addition?
Potentially, but zoning and setback rules in River Park South will dictate what’s possible. The lot is smaller than average, which may limit the footprint of any addition. However, the low purchase price relative to area averages might leave room in the budget for interior upgrades that increase comfort and value without altering the home’s footprint. Always check with the city before planning major changes.