Property Overview
142 Millwood Meadow is a renovated bi-level home in Canterbury Park, built in 1986. It features a detached garage and a renovated basement. The property sits on a 3,152 sqft lot, which is modest for the street and area. With 708 sqft of living space, the home is compact, placing it well below the average size for both the neighbourhood and the wider city. Its recent sale price and assessed value are notably lower than many comparable properties, suggesting an accessible entry point into the market.
Key Characteristics & Appeal
This home’s primary appeal lies in its value proposition and move-in readiness. The already-renovated basement is a significant advantage, offering immediate functional space without the need for investment or project management. While the living area is compact, the bi-level layout and renovated spaces can provide efficient, modern living.
Its strongest suit is financial accessibility. With a sale price and assessed value consistently below area averages, it represents a lower barrier to entry for homeownership in Winnipeg. This is particularly compelling given that the home is not a fixer-upper; the renovations reduce immediate future costs.
The property would suit first-time buyers or downsizers seeking an affordable, low-maintenance home in a stable neighbourhood. It’s also a practical option for investors looking for a renovated rental property with a manageable entry cost. A thoughtful perspective is that the smaller lot and home size translate to lower property taxes and utility costs, offering long-term savings that aren't always apparent in the listing price.
Frequently Asked Questions
1. Is the living space too small?
At 708 sqft, the home is compact. However, the renovated basement effectively doubles the usable living area, making the overall functional space more comfortable than the main floor square footage alone suggests.
2. Why is the price so much lower than area averages?
The lower price reflects the home’s smaller lot and living area compared to area norms. It represents a value-oriented option in the neighbourhood, not a deficiency in the property’s condition, as key areas have been renovated.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A viewing is essential to assess the finish quality, layout, and whether it includes legal egress, a bathroom, or a kitchenette.
4. How does the age of the home (1986) affect it?
Built in 1986, the home is newer than many in Winnipeg but is now 40 years old. While the basement is renovated, buyers should still consider the potential future need to update major aging components like the roof, windows, or heating system.
5. Is the detached garage a drawback?
This depends on preference. A detached garage offers flexibility for workshop use or separates vehicle fumes from the house. However, it is less convenient during Winnipeg winters compared to an attached garage.