Property Overview
This is a compact, one-storey home built in 2005 on a standard city lot in Canterbury Park. Its primary appeal lies in being a relatively modern, low-maintenance structure in a mature neighbourhood, presenting a straightforward opportunity for entry into the Winnipeg market. The home sold for $290,000 in June 2024.
Key Characteristics & Ideal Buyer
The home’s defining characteristic is its modest 768 sqft living area, which is notably smaller than most homes on its street, in Canterbury Park, and across Winnipeg. It sits on a 3,856 sqft lot, which is closer to the local average. The 2005 build date is a key asset, meaning major components like the roof, windows, and mechanical systems are likely in good condition and more energy-efficient than those in many older area homes. The property features a basement (unrenovated) and no garage.
Its appeal is grounded in practicality and potential. It suits first-time buyers or investors seeking a mechanically sound, newer home without the premium price of a larger new build. The unrenovated basement and smaller footprint offer a clear, manageable project for someone wanting to add value through finishing or an addition over time, without the immediate pressure of major system replacements. It’s less suited for those requiring significant move-in-ready space or multiple bedrooms.
Frequently Asked Questions
1. Why is the living area so much smaller than the neighbourhood average?
Built in 2005, this home is a more recent infill on an older street. Its design reflects modern efficiency and cost-conscious construction on a standard lot, resulting in a compact floor plan compared to the larger, often older homes surrounding it.
2. What does the "below average" assessed value indicate?
The City’s assessed value for tax purposes ($28,700) is based on mass appraisal formulas and lags behind the market. It primarily reflects the home’s smaller size and characteristics relative to area averages. The recent sale price of $290,000 is the true market indicator.
3. Is the lack of a garage a major drawback?
For many buyers, yes, it is a consideration. However, the 2005 build date means the home was constructed without one, so there is no converted or removed garage affecting the layout. The lot size may allow for the future addition of a garage or carport, subject to local bylaws.
4. What are the advantages of a 2005-built home in an older neighbourhood?
You benefit from newer construction standards, insulation, wiring, and major components (roof, furnace, windows) that likely have considerable service life remaining. This can mean lower immediate maintenance costs and better energy efficiency compared to the neighbourhood’s older housing stock.
5. How does the lot size compare, and what does that mean?
At 3,856 sqft, the lot is fairly typical for the area. This is a positive, as it provides adequate outdoor space and a key distinction from newer subdivisions with smaller lots. It offers potential for gardening, recreation, or future expansion, which the small living area makes more relevant.