Property Overview
56 Fairview Drive is a two-storey home in Canterbury Park, built in 1986. It sits on a 3,299 sqft lot and offers 1,211 sqft of living space. The home features a renovated basement but does not include a garage or pool. Its last recorded sale was in August 2016 for $26,700, with a current assessed value of $32,300.
Key Characteristics & Appeal
This property presents a straightforward, no-frills homeownership opportunity. Its primary appeal lies in its relative affordability and established location. The renovated basement adds functional living space and is a key modern touch in an older home. The lot size is modest for the street but typical for the neighbourhood, offering manageable outdoor maintenance.
It would suit first-time buyers or practical investors seeking an entry point into the Winnipeg market without major premium features. The buyer should be comfortable with a home that is average in size and value for its immediate area, seeing potential in its solid baseline rather than standout luxury. A thoughtful perspective is that its "around average" metrics across the board signal stability—it's not an outlier, which can mean fewer surprises and a predictable investment in a mature community. The lack of a garage, however, will be a key consideration for vehicle owners.
Frequently Asked Questions
What does "renovated basement" typically include?
While specifics should be verified, this generally indicates finished living space, possibly including updated flooring, walls, and ceilings. It’s important to confirm the quality, permits, and whether it includes a bathroom or kitchenette.
How significant is the lack of a garage?
For this neighbourhood and price point, it's a common trade-off. Buyers should budget for alternative parking and storage solutions. The modest lot size also limits the potential for adding a garage later without special permits.
The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is typically below market value. Its "around average" ranking city-wide suggests the home is aligned with a broad segment of Winnipeg's housing stock, not a distressed property.
How does the 2016 sale price relate to today's value?
The $26,700 sale price from eight years ago is a historical data point. The current assessed value and local market conditions are more relevant for determining today's value, though the low historical price highlights the home's role as a long-term affordable option.
Are the "top X%" rankings good or bad?
They provide context. For example, the home ranks in the top 4% for year built on its street, meaning it's one of the newest homes there—a positive. Conversely, its land area is in the bottom half for the neighbourhood, which is neutral to negative depending on a buyer's desire for yard space.