Property Overview & Key Characteristics
This one-storey home at 181 Allenby Crescent in Canterbury Park presents a unique profile defined by its generous lot and recent, significant price adjustment. Its primary appeal lies in the substantial, above-average 5,245 sqft lot within a quiet crescent setting, offering ample outdoor space and potential. The home itself is modest in size at 988 sqft but benefits from a renovated basement. Built in 1974, it is notably newer than most on its specific street. The most striking characteristic is its financial history: it sold for $280k in early 2020 but then sold again very recently in February 2024 for only $32.5k. This drastic change suggests a sale under very specific circumstances, not reflective of a typical market transaction.
The property would likely suit a specific type of buyer: those with the vision and capacity for a potential renovation or rebuild project, attracted by the land value and location rather than the existing structure. It could also appeal to an investor or buyer looking for a lot with an existing, rentable basement suite, given the renovation. This is not a turn-key home for a typical family, but a property where the underlying value is in the land and the opportunity it presents.
Frequently Asked Questions
1. Why was the sale price in 2024 so low compared to 2020?
A sale price of $32.5k is far below assessed value and the previous sale, indicating a non-arms-length transaction. This could be a transfer between family members, a sale to settle an estate, or the result of specific legal or financial circumstances. It does not represent the home’s market value.
2. Is the house in livable condition, given the recent sale price?
The listing notes a renovated basement, suggesting at least a portion of the home is updated. However, the drastic price drop and the modest size of the main living area imply the main floor may require significant updates or that there are other factors affecting livability. A thorough inspection is essential.
3. What makes the lot size significant?
At 5,245 sqft, the lot is larger than approximately 73% of properties in Canterbury Park. On Allenby Crescent itself, it ranks in the top 27% for size. This provides valuable outdoor space, potential for additions, landscaping, or future redevelopment, which is a key asset.
4. How does the age of the home compare to the area?
Built in 1974, this home is actually newer than most on its immediate street (ranking in the top 4%), but is older than the average home in the broader Canterbury Park neighbourhood. This suggests a well-established, mature streetscape.
5. Is the assessed value a reliable indicator of what I should pay?
The assessed value ($34.5k) is for municipal tax purposes and is clearly disconnected from the home’s market value, as evidenced by the 2020 sale at $280k. Market value would be determined by current condition, comparable sales of similar land properties, and market demand, not this administrative figure.