390 Pritchard Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1911 home with 1,567 square feet of living space on a 2,686-square-foot lot. Its standout feature is size: the living area ranks in the top 8% on its street, top 14% in the William Whyte neighbourhood, and top 27% citywide. In practical terms, that means notably more interior space than most nearby homes, which average around 1,048 square feet on the street and 1,158 square feet in the area.

The flip side is a modest assessed value of $112,000—well below street, neighbourhood, and city averages. This gap between size and valuation is unusual. It suggests the property may not have been updated to current market standards, or that the lot and location are weighing on price more than the house itself. The land is small (bottom 7% on the street, bottom 11% in the neighbourhood), so outdoor space is limited. The home’s age (112 years) is typical for the area—the neighbourhood average is 1927—but well above the citywide median of 1966.

Where the appeal lies: Buyers get a large interior footprint at a price point that looks low compared to the living area. That could make sense for someone who values roominess over yard space and is comfortable with an older home that might need updates. The assessed value also points to lower property taxes relative to similarly sized houses in other parts of the city.

Who it would suit: Buyers who prioritize square footage over lot size, aren’t put off by a century-old structure, and want to keep purchase costs down. It could work well for a renovator looking to add value by modernizing the interior, or for someone who needs space for a large family or home-based business but has a tight budget. It’s less suited to those seeking a turnkey property or a large yard.

Five Possible FAQs

1. Why is the assessed value so low compared to the living area?
Assessed value reflects not just square footage but also condition, updates, location, and lot size. The home is old, the lot is small, and the neighbourhood (William Whyte) has below-average valuations citywide. The value likely hasn’t kept up with the size because the property hasn’t been renovated to match what buyers typically pay for in that much space.

2. Is a 1911 home likely to have major issues?
Homes of this age commonly have older electrical, plumbing, and possibly foundation or insulation concerns. The data doesn’t specify renovations, so a thorough inspection is advised. The upside is that many century homes in the area have solid bones, but expect ongoing maintenance compared to a newer build.

3. How do property taxes compare?
Taxes are based on assessed value, which is $112,000—roughly one-third of the citywide average for comparable homes. So you’ll likely pay significantly less in property tax than you would for a similarly sized house in a higher-valued area. Check with the city for the exact mill rate.

4. Could the assessed value increase after renovations?
Yes. If you put money into updates—kitchen, bathroom, mechanicals—the assessed value can rise, which means higher taxes later. But it also builds equity. The current gap between size and value suggests there’s room to increase the property’s market worth without over-improving for the neighbourhood.

5. Is the small lot a dealbreaker, or just a trade-off?
It depends how you plan to use the property. If you want a garden, playspace, or expansion potential, the lot is restrictive—bottom 7% on the street. If you’re fine with a smaller outdoor area and prefer more indoor room, it’s a straight trade-off. The lot size is typical for older infill homes in the area, so it’s not unusual for the neighbourhood.