Property Overview
This one-storey home at 28 Fairview Drive in Canterbury Park presents a specific and practical opportunity. Built in 1986, its key characteristic is a generous 3,798 sqft lot that ranks in the top 30% for size on its own street, offering more outdoor space than many immediate neighbors. The living area is a modest 1,009 sqft, and the home features an unrenovated basement and no garage. Its appeal lies in its value proposition: the property has a very low assessed value relative to its street and neighborhood, and it last sold for $27,900 in late 2022. This suggests it is likely a fixer-upper or a teardown candidate.
The property would suit a specific type of buyer: investors, builders, or handy first-time buyers looking for an entry point into the area with land value as the primary asset. It’s a project property, appealing to those with the vision and budget to renovate extensively or rebuild, rather than someone seeking a move-in-ready home. A less obvious perspective is that, while the house itself is below average in size and condition for Canterbury Park, its lot size on Fairview Drive is a relative strength, offering potential for expansion or outdoor living that isn't available on many other lots in the immediate row.
Frequently Asked Questions
1. Is this a move-in ready home?
No. The listing notes the basement is "not renovated," and the very low sale price and assessed value strongly indicate the property requires significant updates or is being purchased for its land value.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's current state and market position. With a smaller, older home in unrenovated condition on a standard neighborhood lot, the value is driven down compared to the city-wide average, which includes newer, larger, or updated homes.
3. What are the main advantages of this property?
The primary advantages are the larger-than-average lot size for the street and the low entry price. It represents a chance to secure a property in Canterbury Park, often for the value of the land, with the home itself offering potential through investment.
4. What should I budget beyond the purchase price?
Given the condition, buyers should budget extensively for renovations, which could range from major updates to a full rebuild. Costs for adding a garage, finishing the basement, and modernizing the 1,009 sqft living space should be factored in immediately.
5. How does the lot size compare to the area?
The lot is a key feature. At 3,798 sqft, it is above the average for Fairview Drive itself, but below the average for the broader Canterbury Park neighborhood. This means you get more space than your direct neighbors, but less than what's typical in the wider community.