Property Overview
This 1989 bi-level home at 51 Zawaly Bay in Canterbury Park is a property defined by its efficient scale and relative value. Its key appeal lies in being a more affordable entry point into the Winnipeg market, particularly within its immediate area. The home features a renovated basement and a detached garage on a 3,028 sqft lot. The data reveals a clear picture: this is a compact home with a living area of 680 sqft, which is notably smaller than most peers on its street, in the neighbourhood, and across the city. Consequently, its assessed value and last sale price (330k in March 2023) sit below local averages, positioning it as a value-conscious option.
This home would best suit first-time buyers, downsizers, or investors seeking a straightforward, lower-maintenance property with renovation potential. Its smaller size and lot offer manageable upkeep, while the below-average price for Canterbury Park provides an opportunity to enter a established neighbourhood without the premium price tag of larger homes. A thoughtful perspective for a buyer is to see the compact living area not just as a limitation, but as a catalyst for efficient, minimalist living, with the renovated basement offering crucial flexible space.
Frequently Asked Questions
1. Is the house unusually small?
Yes, the 680 sqft of living area is significantly below average for Canterbury Park and even for its own street. This makes it one of the smaller homes in the area, which is a primary factor in its pricing.
2. What does "below average" assessed value mean for property taxes?
A below-average assessed value (30.20k) relative to the neighbourhood typically results in lower municipal property taxes compared to larger, higher-valued homes nearby, which is a practical financial benefit.
3. The lot size is also below average. Is outdoor space limited?
The 3,028 sqft lot is smaller than many in the area, so yard space is modest. However, it may still be sufficient for a patio, garden, or play area, and requires less maintenance.
4. The home sold in 2023. Should I be concerned about a quick resale?
Not necessarily. A sale just over a year ago could indicate various personal circumstances of the previous owner. It’s more important to focus on the home's condition, the reason for the current sale, and its market valuation today.
5. Given the size, is there potential to expand?
The bi-level design and the presence of a detached garage could offer future expansion possibilities, subject to local zoning bylaws and building codes. The renovated basement already adds usable space.