Property Overview & Key Characteristics
This 4-level split home, built in 1988, sits on a generous 5,424 sqft lot in Canterbury Park. With 1,433 sqft of living space, it offers more room than many comparable homes on its street. A key feature is its renovated basement, adding modernized living area. The property lacks a garage or pool.
Its primary appeal lies in its value proposition and space. The lot size is significantly above average for both the neighbourhood and city, offering ample outdoor potential. The home's assessed value is positioned below the street average, which can suggest an opportunity for value-conscious buyers. The renovated basement is a practical update that adds immediate functionality.
This home would suit a buyer looking for a solid foundation in a mature neighbourhood—someone comfortable with a home of this vintage and excited by the potential of a large yard. It’s ideal for a first-time buyer or a downsizer who prioritizes lot size and living space over features like a garage, and who sees value in a home that has already seen some key updates.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is often different from market value. This home last sold for $290k in 2020. Its assessed value is below the street average, but market conditions, the renovated basement, and the large lot will be the primary drivers of its sale price.
2. What are the implications of not having a garage?
Buyers should consider the cost and feasibility of adding a shed or carport for storage and vehicle protection. On-street parking permissions in the area should also be verified, especially during winter parking bans.
3. What does "renovated basement" typically include?
This indicates finished living space, but the specific scope, quality, and permits should be confirmed. A viewing and inspection are essential to understand if it's a cosmetic update or includes major structural, electrical, or plumbing improvements.
4. How does the 4-level split layout function in daily life?
This style offers good separation of spaces but involves more stairs. It can work well for families, allowing for distinct living and sleeping zones. Consider if the layout suits your household's mobility and preferences for single-level living.
5. The home is older—what should I be mindful of?
Built in 1988, major components like the roof, windows, furnace, and plumbing may be near or past their typical lifespan. An inspection is crucial to understand the condition and budget for potential updates, balanced against the benefits of the large lot and recent basement renovation.