Property Overview
83 Millwood Meadow is a compact, one-storey home built in 1986, situated on a generously sized lot in Canterbury Park. Its key appeal lies in the combination of a renovated basement and a land area that is well above average for its immediate street. With a modest 895 sqft of living space and no garage, the home presents a practical, low-maintenance footprint. The assessed value is notably below average for the neighbourhood, suggesting a potentially accessible entry point into the area. This property would suit first-time buyers, downsizers, or investors looking for a solid foundation in a mature community without a large initial investment. Its above-average lot size also offers latent value for those with future expansion or landscaping in mind.
Frequently Asked Questions
What does "renovated basement" typically include?
While specifics should be verified by a viewing or inspection, a renovated basement in a home of this era and profile often means finished living space, possibly with a recreation room, additional storage, or a laundry area. It adds functional square footage beyond the main floor.
How should I interpret the assessed value being below neighbourhood average?
This generally indicates the municipality's valuation for tax purposes is lower than many surrounding homes. It can point to a more affordable tax bill and may reflect the home's smaller size and simpler features compared to larger, updated properties in Canterbury Park.
Is the lack of a garage a significant drawback?
It depends on your needs. For some, it simplifies exterior maintenance. The large lot does offer potential for adding a garage or carport in the future, subject to local bylaws, which could be a value-add project.
The home last sold in 2017. What does that suggest?
A seven-year ownership period indicates stability and suggests the sellers are likely moving for lifestyle reasons rather than a quick turnaround. It’s a positive sign that the area has retained residents.
Why is the lot size considered a standout feature?
At 3,581 sqft, the lot ranks in the top 24% on its own street. In a mature neighbourhood, a larger-than-typical lot provides valuable outdoor space, better privacy from neighbours, and greater flexibility for gardening, play, or future additions compared to other homes with similar living areas.