340 Burrows Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,190 sqft single-family home built in 1905, located on Burrows Avenue in the William Whyte neighbourhood. Its standout feature is the living area: at 1,190 sqft, it ranks in the top 29% on its street and top 39% in the neighbourhood—slightly above the local average. The assessed value is $146,000, which is well below the street average of $227,300 but sits close to the neighbourhood average of $149,100. The land area is 2,465 sqft, smaller than both street and neighbourhood averages. The year built (1905) is older than most nearby homes, placing it in the bottom tier citywide.

The property’s appeal lies in its balance of size and price. You get more indoor space than many homes in the area, at a valuation that stays relatively low. This suggests potential for appreciation if the neighbourhood trends upward, or a solid entry point for someone willing to invest in an older home. It’s less suited for buyers seeking a turnkey property or a large lot. More fitting for first-time buyers who value interior square footage over land, investors looking for a below-market entry in an established area, or anyone comfortable with the realities of a century-old house—maintenance, possibly outdated systems, and limited yard space.

Frequently Asked Questions

1. How does the assessed value compare to similar homes nearby?
On the street, this home is valued about 36% below the median. But in the wider William Whyte neighbourhood, it’s almost exactly average. Citywide, it’s far below typical valuations—ranking in the bottom 3%—which reflects both the older age and smaller lot, not necessarily the condition of the house.

2. Is the small land area a problem?
It depends on your needs. At 2,465 sqft, the lot is smaller than 82% of homes on this street and 91% in the neighbourhood. If you want a garage, garden, or room to expand, this property may feel tight. However, smaller lots often mean less upkeep and lower property taxes, which can be a trade-off some buyers prefer.

3. What should I know about a house built in 1905?
Older homes can have charm—thick plaster walls, solid wood framing, unique layout—but they also come with older plumbing, electrical, and insulation. A thorough inspection is wise, paying attention to foundation, knob-and-tube wiring, lead paint, and the roof. Some buyers find that a 1905 build in a lower-assessed area can be renovated affordably, but others may face unexpected costs.

4. How does this home rank within the city overall?
Citywide, it’s fairly average for living area (top 51%), but well below average for assessed value (bottom 3%), land area (bottom 3%), and age (bottom 2%). It’s a classic example of an older, inner-city property that scores better on livable space than on land or modern updates.

5. Is this a good investment property?
Potentially—but cautiously. The low assessed value relative to living area means your tax bill stays modest, and the price entry is low. On the downside, the smaller lot limits redevelopment potential, and the older age could mean capital expenses sooner rather than later. It’s best suited for a buy-and-hold strategy in a neighbourhood that’s seeing gradual reinvestment, not quick flips.