Property Overview
108 Minnetonka Street presents a compelling mix of space, value, and potential. Built in 1955, this home stands out for its generous lot size while offering a living area that provides comfortable, functional space.
Key Characteristics & Appeal
The primary appeal of this property lies in its land. With an 8,916 sqft lot, it ranks in the top quarter of properties in the area and the top 10% city-wide, offering significant outdoor space that is increasingly rare. The 1,360 sqft living area is above average for its immediate street and provides a practical footprint for daily life. While the home is older than many on its street, its assessed value is firmly in the mid-range for the neighbourhood, suggesting a manageable entry point.
This home would suit a buyer who values private outdoor space for gardening, recreation, or future expansion over a brand-new build. It’s a solid candidate for someone comfortable with a home of this vintage, potentially looking for a property where the value is anchored in the land itself. The recent sale history shows steady appreciation, indicating a stable investment in a mature area.
Frequently Asked Questions
1. How does the age of the home affect its value and condition?
Built in 1955, the home is older than most on its street. This typically means potential for character but also suggests that the condition of major systems (like plumbing, electrical, and the roof) should be a key focus during an inspection. Its assessed value remains competitive, indicating the lot size and location balance the age factor.
2. What does the large lot size mean for me practically?
A lot of nearly 9,000 sqft offers exceptional outdoor space compared to newer subdivisions. This allows for larger gardens, play areas, sheds, or even the potential for future additions like a garage or deck, subject to local zoning bylaws.
3. The assessed value seems low compared to recent sale prices. Why?
The assessed value (approximately $39.4k) is for municipal tax purposes and is not an indicator of market value. The recent sale price ranges (from $400k-$450k in 2022) reflect the actual market value, which is influenced by current buyer demand, property condition, and market trends.
4. How stable has the property's value been?
Based on the available data, the home has shown consistent appreciation. It sold in the $250k-$300k range in 2016 and reached the $400k-$450k range by 2022, demonstrating strong growth through that period.
5. Where can I see more detailed comparisons with neighbouring homes?
You can use the provided link to open the neighbourhood analysis page. This tool maps nearby properties and allows you to compare specifics like year built, living area, and lot size directly, giving you clear context for how this home fits into the area.