Property Overview & Appeal
This bi-level home at 131 Millwood Meadow in Canterbury Park is a compact, efficiently laid-out property built in 1986. Its key characteristic is a recently renovated basement, adding modern living space to the home's 691 sqft main floor. The lot is a manageable 3,267 sqft with a detached garage. The home’s appeal lies in its position as a well-maintained, entry-level property in an established neighbourhood. It suits first-time buyers, downsizers, or investors seeking a lower-maintenance home with updated fundamentals. A thoughtful perspective is that while the living space is modest compared to area averages, the renovated basement effectively expands usable space, offering value in functionality over sheer size. Its assessed value is consistent with similar homes on its street, suggesting a fair and stable entry point into the market.
Frequently Asked Questions
1. Is the living space too small?
At 691 sqft above grade, the main living area is compact. However, the renovated basement significantly increases the total usable space, making the home practical for small households.
2. How does the lot size compare?
The 3,267 sqft lot is below average for Canterbury Park. This translates to less yard maintenance, which can be a benefit for those seeking a low-maintenance property.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Viewing the property or requesting details from the listing agent is essential to understand the finishes and layout.
4. Is the 1986 build date a concern?
The home is 40 years old, which is newer than many on its street and city-wide average. This suggests major components like the roof or windows may have been updated more recently than in older homes, but a thorough inspection is always recommended.
5. Why is the last sale price lower than the assessed value?
The home sold for $26.6k in March 2020. The current assessed value of $32.7k reflects the municipal assessment for tax purposes, which can differ from market value. Market conditions, property improvements, and assessment cycles all influence these figures.