Geirsstaðir was built in 1903 by Sigurgeir Guðmundsson, the father of Oddur sterki af Skaganum (a well-known character at the time) and was situated at Skólabraut 24. The house originally had only one floor until a second floor was added in 1908 but no changes have been made since then. Geirsstaðir has always been the home of working class families. From 1950 until 1971 Kristín Jónsdóttir used to teach reading to children before they started school. Because of this the house was fondly called Geirsstaðir University. Geirsstaðir was inhabited until 1992. There are plans to renovate the house in the coming years.