50 Purcell Avenue

Property Overview

This 1911 two-and-a-half storey home in Wolseley offers a blend of classic character and solid fundamentals. Its primary appeal lies in its generous proportions and established location. With 2,235 sqft of living space on a 3,496 sqft lot, the home ranks in the top tiers for size both locally and city-wide. It presents a clear opportunity for buyers seeking a "blank canvas" with good bones, as the basement is noted as unrenovated. The assessed value is stable and ranks well above average for the street and neighbourhood.

This property would suit a buyer who values space over immediate move-in readiness—someone ready to take on updates over time. It’s ideal for a growing family, a creative owner looking to personalize a character home, or an investor seeking a substantial property in a desirable, mature neighbourhood. The appeal is practical: you're purchasing significant square footage and land in a well-regarded area, with the understanding that its full potential will be realized through future investment.

Frequently Asked Questions

What does "two-and-a-half storey" mean for this home?
This typically describes a home with two full floors of living space, plus a smaller top floor (often with sloped ceilings) that could be used as additional bedrooms, a study, or storage. It’s a classic architectural style that maximizes space on a standard city lot.

How significant is the unrenovated basement?
This is a key consideration. It means the basement is in original or functional condition but requires modernization. This presents both a cost factor for future improvement and an opportunity to design the space to your exact needs, such as creating a laundry room, storage, or a recreational area.

The home is 115 years old. What should I be mindful of?
While the structure has proven its durability, a pre-purchase inspection is essential. Focus should be on the foundation, roof, wiring, and plumbing to understand what immediate updates may be required versus longer-term projects.

The assessed value seems low compared to the home's size. Why is that?
Municipal assessments are for tax purposes and often don't reflect current market value, especially for character homes. The assessment is influenced by factors like the unrenovated condition and is not an appraisal. The sales history and comparable listings are more relevant for determining market price.

How does the lot size and ranking translate to real-world benefits?
A lot size ranking in the top 21% on the street means you have more outdoor space than most neighbours. This allows for larger gardens, play areas, or potential additions like a deck or garage. It’s a valuable asset in an established inner-city neighbourhood.