Property Overview
This one-storey home at 14 Baxter Bay in Canterbury Park presents a specific and compelling value proposition. Built in 1977, it sits on a 4,300 sqft lot. The home itself is 916 sqft and features a renovated basement and a detached garage. Recent data shows it sold for $35,800 in November 2024, which is a significant shift from a previous sale of $300,000 in June 2021.
Key Characteristics & Appeal
The primary appeal of this property lies in its land value and potential, rather than its current living space. The lot size is slightly below average for the immediate street but is solidly within the mid-range for the wider neighbourhood and city. The home's living area is compact, ranking below average for Canterbury Park, suggesting it is ideal for minimalists, investors, or those viewing it as a land play with an existing structure.
Its standout characteristic is its age relative to the street—it is the newest home on Baxter Bay, which can imply more modern underlying systems compared to neighbours. The recently renovated basement adds functional space. The recent sale price is notably low for the market, creating a unique entry point.
This property would suit a practical, value-oriented buyer. It could be ideal for a first-time buyer seeking an affordable footprint to gradually improve, an investor looking for a rental property with a low acquisition cost, or someone interested in the long-term redevelopment potential of the lot in an established neighbourhood.
Frequently Asked Questions
1. Why is the recent sale price so much lower than the 2021 sale?
This significant difference typically indicates a change in the property's state or circumstance not detailed in the basic metrics, such as a shift from a single-family home to a condominium/title type, a severe fire or flood event, or a substantial change in land use rights. Due diligence into the property's legal and physical history is essential.
2. How does the "newest on the street" status impact the home?
While the 1977 build date is not new overall, being newer than direct neighbours can be an advantage. It may mean less immediate concern for major age-related repairs (like roofing or plumbing) compared to older homes on the block, assuming maintenance has been kept up.
3. Is the living area too small for a family?
At 916 sqft above grade, the space is compact. However, the renovated basement provides additional finished area, which can help. It would best suit a small family, a couple, or a single occupant. The layout and functionality of the basement renovation will be key to overall livability.
4. What does the average lot size mean for future plans?
The lot is a standard size for the area. It provides adequate outdoor space for gardening, play, or entertaining, but may not be oversized for major expansions. Any future addition or rebuild would need to comply with current zoning bylaws regarding setbacks and coverage.
5. How should I interpret the assessed value versus sale price?
The assessed value ($34.30k) is for municipal tax purposes and often lags behind market value. The recent sale price of $35,800 is the current market indicator. The close alignment in this case suggests the market is recognizing the property's value primarily for its land and basic structure, rather than as a premium living space.