512 Best Street – Property Summary

Key Characteristics & Buyer Profile

This 1,457 sqft home on Best Street, built in 1961, sits on a 5,129 sqft lot with an assessed value of $307,000. Its standout feature is the living area: on this specific street, it's ranked #2 out of 50 homes—placing it in the top 4%. That’s notably larger than the street average of 1,181 sqft. However, the assessed value tells a different story. It's below average relative to both the street and the neighbourhood, ranking #42 on the street (top 84%) and #2,408 in Westwood (top 95%). The land area is about average for the street but below the neighbourhood norm, and the year built is typical for the street, though older than most homes nearby.

The appeal here is subtle. A buyer gets significantly more interior space than other houses on the same street, without paying a premium for it—at least based on assessed value. That suggests either the home hasn't been updated in line with its neighbours, or the market doesn't fully price in the extra square footage in this location. The land is modest by Westwood standards, so it’s not a lot for someone looking to expand or redevelop.

This property would suit a buyer who values interior square footage over lot size or a polished exterior finish—someone who doesn't mind a fixer-upper or a less trendy street presence, but wants room to spread out. It could also appeal to an investor or first-time buyer looking for an entry point into a street where most homes are priced higher. The home is older, so renovation costs should be factored in. It’s less suited for someone seeking a move-in-ready showpiece or a large yard.

Frequently Asked Questions

1. Why is the assessed value low compared to the neighbourhood average, even though the house is larger?

The assessed value likely reflects the home's condition, age of major systems (roof, furnace, windows), and interior finishes—not just square footage. Neighbouring homes may have been updated or renovated, which would raise their assessed values. This property's value suggests it hasn't seen the same level of investment, despite having more space.

2. Is this a good street in terms of resale value?

Best Street itself has a strong ranking for living area (top 4%), which implies desirable homes. But this particular property ranks near the bottom for assessed value on the street (top 84%). That means it's one of the more affordable entries on the block, which could be a positive for resale if you add value, or a risk if the street's overall market doesn't strengthen.

3. How does the lot size affect usability?

At 5,129 sqft, the lot is typical for the street but about 20% smaller than the Westwood average. For a 1961 home, this is a fairly standard suburban lot—enough for a front and back yard, but not generous. If you're planning an addition or a garage, you’ll want to check setback rules and zoning; there's not much excess land.

4. What does "around average" citywide mean for ranking reliability?

The citywide rankings are based on a huge pool (194,458 homes), so the home falls near the middle for land area, year built, and living area. That’s not remarkable, but it means the property is not an outlier in any extreme way. The real story is the contrast between its strong street-level living area rank and its weaker street-level value rank.

5. Should I be concerned that the home's year built is older than the neighbourhood average?

Only if you're not prepared for older home maintenance. The house was built in 1961, same as the street average, but Westwood homes average 1966. A five-year difference is minor, but the neighbourhood context suggests newer builds or more recent renovations are common nearby. You'll want a home inspection to check for wiring, plumbing, and insulation that meets current standards.