Property Overview
This two-storey home at 55 Craglea Corner in Canterbury Park presents a practical opportunity with specific strengths. Built in 1980, it sits on a 2,500 sqft lot and features 1,200 sqft of living space. A key highlight is its renovated basement, adding valuable finished space. The home does not have a garage or pool. It last sold in August 2022 for $380,000, a price that was notably above average for its immediate street, indicating a premium was paid for its condition or features at that time.
Key Characteristics & Appeal
The primary appeal of this property lies in its efficient use of space and its updated condition. With a living area that ranks in the top 7% on its own street, it offers more interior space than most direct neighbors, which is a significant advantage in an older neighborhood. The renovated basement immediately adds functional living area without the need for buyer investment. The lot size is typical for the street, offering manageable outdoor space without excessive maintenance.
This home would suit first-time buyers or downsizers looking for a move-in ready property in a mature community, particularly those who value interior square footage over a large yard or garage. Its above-average sale history suggests it may appeal to buyers who prioritize recent updates and are willing to pay a slight premium to avoid major renovation projects. A thoughtful perspective is that while the assessed value is modest, the recent sale price reflects a market valuation driven by its renovated state—a crucial distinction for buyers understanding the difference between tax and market value.
Frequently Asked Questions
1. How does the lack of a garage affect this property?
While many homes in wider Winnipeg have garages, their absence is more common in older, established neighborhoods like Canterbury Park. Buyers should plan for street parking or consider the cost and feasibility of adding a driveway or carport.
2. The 2022 sale price seems high compared to the assessed value. Why?
Assessed value is for municipal tax purposes and often lags behind the real estate market. The $380,000 sale price likely reflected the home's renovated condition, recent market trends, and its desirable interior space relative to nearby homes.
3. What does the "renovated basement" typically include?
While specifics should be verified with a viewing or listing agent, a renovated basement in a home of this era usually means a finished living space, such as a family room or additional bedrooms, with proper flooring, drywall, and ceilings. Always check for permits and moisture issues.
4. Is the living area size a major advantage?
Yes, particularly in this location. With 1,200 sqft, this home offers substantially more living space than the street average (~1,037 sqft). This means more room per dollar compared to immediate neighbors, making it a standout in its micro-area.
5. What is the neighborhood (Canterbury Park) like?
Canterbury Park is a mature, established neighborhood with homes primarily from the 1980s. The lot sizes and home values here are generally below the wider city average, offering a more affordable entry point into homeownership with a settled, community feel.