Property Overview
This one-storey home at 38 Northcliffe Drive in Canterbury Park is a compact, no-frills property built in 1980. Its key appeal lies in its simplicity and potential as an affordable entry point. With 860 sqft of living space and a 2,500 sqft lot, it is notably smaller than most homes on its street, in the neighbourhood, and across Winnipeg. However, it features a renovated basement, adding functional space. The home last sold in 2019 for $19,800 and carries a current assessed value of $29,100, which is well below average for the area. This creates a scenario where the land itself may hold significant value relative to the structure.
The property would suit a specific type of buyer: first-time purchasers or investors looking for minimal upfront cost in a stable neighbourhood. It’s a practical choice for someone comfortable with a smaller footprint or viewing it as a long-term land hold. The below-average metrics across size, value, and year built suggest it’s not a move-in-ready showhome, but rather a canvas. Its value proposition is rooted in affordability and location, offering a chance to get into the Canterbury Park area at a threshold lower than most other properties.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's relatively small size and older construction compared to broader Winnipeg averages. It indicates the current improvement value (the house) is modest, which often points to a property where the land value constitutes a significant portion of the total assessment.
2. What does "renovated basement" mean in this context?
While specifics aren't listed, the notation suggests the basement has been updated to be functional living space. Given the home's smaller main floor area, this renovation likely provides crucial additional room, but buyers should verify the quality, permits, and finish level.
3. The home sold for $19,800 in 2019. Is the current price realistic?
The 2019 sale price was exceptionally low, even for this property. The current assessed value of $29,100 provides a more recent benchmark, but the final market price will depend on condition, market trends, and buyer demand for affordable lots in the area.
4. Who would this property not be suitable for?
It would likely not suit buyers looking for a turn-key home, those needing substantial space, or anyone expecting immediate equity from a modern or large structure. The numbers clearly show it's an outlier in terms of size and value within its own neighbourhood.
5. Is the lack of a garage a major drawback?
For many buyers in Winnipeg, a garage is a significant asset. Its absence here is a practical consideration, especially for vehicle protection during winter. This factor contributes to the property's affordability and should be weighed against the lower entry cost.