Property Overview: 5 Gables Court, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1976, presents a practical opportunity in Canterbury Park. Its primary appeal lies in its efficient scale and recent updates. With 1,114 sqft of living space, it offers more room than most immediate neighbors, making it a relatively spacious option for its specific street. A key feature is the renovated basement, adding valuable finished space. The property sits on a modest 1,600 sqft lot, which translates to lower maintenance—a significant plus for those seeking a manageable yard.
The home’s strongest suit is its value positioning. Its assessed value and last sale price are notably below averages for both the neighborhood and the wider city. This creates an accessible entry point into the market, especially for first-time buyers or downsizers who prioritize financial practicality over premium lot size. It suits a buyer looking for a move-in-ready base (thanks to the renovated basement) without the footprint or upkeep of a larger property. A thoughtful perspective: while the lot is small by city standards, it ranks more competitively on its own street, suggesting the character of Gables Court is one of cozier, efficient homes rather than sprawling estates.
Frequently Asked Questions
1. Is the small lot size a major drawback?
It depends on your priorities. The lot is significantly below the city average, limiting expansive gardening or large outdoor projects. However, it means minimal yard maintenance, which can be a desirable feature for those seeking a low-maintenance lifestyle.
2. How does the assessed value compare to the likely market price?
The assessed value is quite low compared to area averages. It’s important to note that assessed value is for tax purposes and often lags behind the market. The home last sold for $220k in 2020, which may be a more relevant benchmark, though market conditions have changed since then.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the extent. We recommend inquiring about the quality of the renovation, whether it includes a permit, and what the space is currently used for (e.g., recreation room, additional bedroom).
4. Is the home older than others in Canterbury Park?
Yes. Built in 1976, it is older than the average Canterbury Park home. However, it is actually the newest home on Gables Court itself. This indicates the immediate area consists of well-established, older homes.
5. There's no garage. Is street parking readily available?
The listing notes no garage. Given the small lot size, adding a garage later may be challenging. Prospective buyers should visit the street to assess typical parking availability and inquire about any neighborhood parking regulations.