122 Millwood Meadow

Property Overview & Key Characteristics

This bi-level home at 122 Millwood Meadow in Canterbury Park presents a specific and practical value proposition. Its key appeal lies in its efficient use of space and its position as a more accessible entry point into the Winnipeg housing market. Built in 1986, the home is notably newer than many in the city overall and is among the newer homes on its own street. It sits on a 3,464 sqft lot, which is above average for the immediate neighbourhood, offering decent outdoor space relative to nearby homes.

The living area is compact at 691 sqft, placing it well below average for both the area and the city. This indicates a home focused on essential living spaces, likely with five or fewer main rooms. A key feature is the renovated basement, which adds functional space and modern appeal. There is no garage or pool.

The home last sold for $250,000 in November 2022, a price point that was below average for Canterbury Park and the wider city at that time. Its municipal assessed value remains significantly lower than area averages, suggesting it has consistently been one of the more budget-friendly options in its locale.

Who This Home Would Suit:
This property is ideally suited for first-time buyers, downsizers, or investors seeking a straightforward, lower-maintenance home. The renovated basement adds immediate livability and value. The below-average price and taxes relative to the area make it a practical choice for cost-conscious buyers who prioritize location and a manageable yard over square footage. It’s a home for those who see a compact layout as efficient rather than limiting, and who value a newer build year within an established neighbourhood.

Frequently Asked Questions

1. Is the living area too small for a small family?
While the 691 sqft main living area is compact, the renovated basement effectively doubles the functional space. This layout can work well for a small family, especially one looking to minimize cleaning and utility costs, with the basement providing crucial room for recreation, an office, or additional sleeping areas.

2. Why is the assessed value so much lower than the sale price?
Municipal assessed values in Manitoba are for tax purposes and are not intended to reflect market value. They are calculated using mass appraisal techniques and can lag behind rapid market changes. The 2022 sale price of $250,000 is a clearer indicator of its market value at that time.

3. What does "above average" for the year built really mean for a 1986 home?
It means that on its specific street (Millwood Meadow), this home is among the 6% newest properties. In the broader context of Winnipeg, where many homes are older, a 1986 build offers more modern construction standards, wiring, and insulation compared to the citywide average home built in 1966.

4. There's no garage. Where is parking, and is street parking an option?
The listing does not specify driveway parking, so this would be a key point to verify with the seller or a viewing. Given the home's bi-level design and lot size, it may have a driveway. Street parking availability in Canterbury Park is generally good, but local bylaws and winter parking bans should be considered.

5. The home sold recently in 2022. What might this indicate?
A relatively quick resale can point to several neutral or positive factors: it could have been an investor flip (supported by the renovated basement), a life circumstance change for the previous owner, or a purchase by someone who found the space ultimately too compact. It underscores the importance of a thorough inspection to assess the quality of the recent renovations.