Property Overview
This 1974-built, one-storey home at 390 Redonda Street in Canterbury Park sits on a generous 5,498 sqft lot, which is notably larger than many in the immediate area. With a renovated basement and a detached garage, the home offers practical, ground-level living. Its appeal lies in its solid lot size, recent updates below grade, and a price point that reflects its modest 988 sqft living area. It last sold in August 2023.
This property would suit first-time buyers or downsizers looking for a manageable single-level home with a sizable yard in a mature neighbourhood. It’s also a practical option for value-focused investors or buyers who prioritize land potential over a large existing footprint, as the lot offers room for future expansion or landscaping.
Key Details & FAQs
Key Characteristics:
- Layout & Features: A one-storey home with a renovated basement and a detached garage.
- Lot Size: A key asset at 5,498 sqft, placing it in the top 31% for size on its own street and offering above-average outdoor space for Canterbury Park.
- Context: The living area (988 sqft) is compact relative to many area homes, but this is reflected in its accessible price history. The 1974 build date makes it older than most in the neighbourhood, yet it has been maintained with a modernized basement.
- Ideal Buyer: Best for those seeking a lower-maintenance, single-level layout without sacrificing yard space. It represents a practical entry into a mature community where the land itself is a significant portion of the value.
Frequently Asked Questions:
1. How does the lot size compare to nearby properties?
The lot is a standout feature. At 5,498 sqft, it is larger than the average lot on Redonda Street and ranks in the top 22% for size within the broader Canterbury Park neighbourhood.
2. The home was built in 1974. Is that a concern for the area?
It is an older home for Canterbury Park, ranking in the top 97% for age (meaning 97% of area homes are newer). This suggests potential buyers should pay close attention to the condition of major aging components like the roof, windows, and foundation, balanced against the benefit of a potentially more established streetscape.
3. The living space seems smaller than average. Is that accurate?
Yes. With 988 sqft of living area, it is below the average for both the neighbourhood and the city. This contributes to its competitive pricing and indicates a efficient, cozy layout that may appeal to those looking to minimize unused space.
4. What is the significance of the recently renovated basement?
A renovated basement effectively adds usable living space to a home with a modest main floor area. It suggests the lower level is finished and comfortable, potentially adding a family room, office, or extra bedroom without increasing the home’s footprint.
5. How did the last sale price compare to the assessed value?
The home sold for $30,500 in August 2023, which was below its assessed value at the time of $35,300. This can indicate a market-driven purchase price, possibly related to the home’s smaller size or condition at sale, and is a useful data point for price negotiations.