15 Alder Bay – Property Summary

Key Characteristics & Buyer Profile

This 1,030 sqft home, built in 1972, sits on a 6,920 sqft lot in Westdale. What stands out is the land. Citywide, the lot ranks in the top 18%, and within the neighbourhood it’s in the top 11%—meaning you’re getting noticeably more outdoor space than most nearby properties. The assessed value of $374,000 is above average for both the street and the neighbourhood, which reflects the lot size and the home’s relative condition or location within the area.

The building itself is on the older side, but it’s newer than most homes on the street (ranked 2nd out of 26 for year built). The living area is just around both the street and neighbourhood averages, so interior square footage is not a standout feature. The appeal here isn't a sprawling floor plan; it’s a solid, modest home with a generous yard in a neighbourhood where land is scarce.

This property would suit buyers who value outdoor space over a large interior—those who might want a garden, room for kids or pets to play, or potential to expand or redevelop down the line. It could also work for someone who prefers a quieter, older home with good bones in an established area, rather than a newer build with less land. The mix of above-average assessment and land ranking suggests this is an asset where the land is doing most of the heavy lifting for value.

Five Possible FAQs

1. How does the size of this property compare to other homes in the area?
The lot is larger than average for the neighbourhood (top 11%) and citywide (top 18%), but the house itself is roughly average in size for both the street and the area. Expect a modest interior paired with a generous yard.

2. Is this home priced fairly compared to similar properties?
The assessed value of $374,000 is above the street average ($366,200) and well above the neighbourhood average ($307,400). This likely reflects the larger lot and the home being slightly newer than others nearby, rather than the interior size.

3. How old is the house, and is that a concern?
Built in 1972, it’s one of the newer homes on its street (top 8%) but roughly average for the neighbourhood and city. Some deferred maintenance may exist, but the construction date is not unusual for this area.

4. What kind of buyer would get the most value from this property?
Someone who prioritises outdoor space over interior square footage. The large lot offers flexibility for gardening, recreation, or future expansion, while the home itself is a functional, no-frills space.

5. How does this property rank for investment potential?
The land value is strong relative to the city, and the assessment is above neighbourhood averages, which suggests built-in equity. However, the interior is modest, so returns would likely come from land appreciation or redevelopment rather than the house itself.