Property Overview
This two-storey home at 115 Northcliffe Drive in Canterbury Park presents a compelling opportunity defined by its generous lot and recent, significant value appreciation. Built in 1985, it features a renovated basement and a detached garage.
Key Characteristics & Appeal
The standout feature of this property is its land. With a lot size of nearly 7,000 sq ft, it ranks in the top 8% on its own street and the top 9% within the Canterbury Park neighbourhood. This offers substantial outdoor space, a relative rarity, perfect for gardening, recreation, or future expansion. The home itself, with 1,211 sq ft of living space, is comfortably sized and sits above average for its immediate street.
Its appeal lies in this land-to-home ratio, offering a sense of space and potential in a well-established area. The renovated basement adds functional living space. The sales history tells a story of dramatic value growth, with the sale price increasing from approximately $29,000 in 2016 and 2017 to $390,000 in 2024. This suggests substantial investment and improvement, likely including the basement renovation.
This home would suit a buyer looking for a established neighbourhood character with ample yard space, possibly a family, a gardener, or someone who values room to breathe. It’s also a fit for those who appreciate a home with clear, recent modernization (the basement) and are less concerned with owning a brand-new build.
Frequently Asked Questions
Q: The lot size is highlighted as a top feature. Are there any restrictions on how this space can be used?
A: While the data confirms the lot's above-average size, potential uses would be subject to City of Winnipeg zoning bylaws. It's always advisable to verify if plans for additions, sheds, or pools are permitted.
Q: The assessed value is listed at $38.70k, but it sold for $390k. Why is there such a large difference?
A: In Manitoba, the assessed value is for municipal tax purposes and is not intended to reflect market value. The sale price is the true indicator of its current market worth.
Q: The home sold for around $29k just a few years ago. What explains the huge increase in value?
A: The sharp increase is almost certainly due to major renovations and improvements made between 2017 and 2024, most notably the basement renovation mentioned in the listing. This transformed the property's condition and market value.
Q: How does the age of this home (built 1985) compare to others in the area?
A: Context is key. On its own street, it's actually newer than average. In the broader Canterbury Park neighbourhood, it's slightly older than average, but citywide, it's newer than the typical Winnipeg home. It represents the era of many established suburban areas.
Q: What does the "Top 4%" sale price ranking on its street mean?
A: This metric indicates that the April 2024 sale price of $390k was among the highest on Northcliffe Drive, outperforming 96% of comparable sale prices there. It confirms the property now sits at the upper end of its immediate market.