Property Overview
51 Millwood Meadow is a two-storey home in Canterbury Park, built in 1986. It sits on a 3,269 sqft lot and offers 1,231 sqft of living space, featuring a renovated basement and no garage.
Key Characteristics & Appeal
This home presents a specific value proposition. Its key appeal lies in offering above-average interior space for its immediate street and a recently renovated basement, all at an assessed value that is modest for the wider city. The lot size is smaller than most in the area, which translates to less exterior maintenance. The 1986 build date is newer than many city-wide comparables, potentially suggesting fewer major age-related concerns than much older stock.
It would suit practical, value-conscious buyers—perhaps first-time homeowners or downsizers—who prioritize living space and modernized finishes over a large yard or garage. The profile suggests a home that offers more "house" for your dollar on the inside, while the smaller lot and lack of a garage keep the costs and upkeep lower. It’s a pragmatic choice in a mature neighbourhood.
Frequently Asked Questions
1. How does the smaller lot size impact the property?
While the land area is below average for Canterbury Park, it means less yard work and lower exterior maintenance costs. It may also suggest a closer proximity to neighbours compared to homes on larger lots in the area.
2. The assessed value seems low relative to sale prices in other areas. Why?
The assessed value is used for municipal tax purposes and reflects a specific valuation methodology. It is around the average for its own street but below the average for the broader Canterbury Park neighbourhood, which aligns with its smaller lot size and lack of a garage compared to area norms.
3. What does the "renovated basement" likely include?
The listing confirms the basement is renovated but does not specify finishes or layout. This should be verified during a viewing to understand if it’s a finished living space, a modernized utility area, or includes legal secondary suite potential.
4. Is the lack of a garage a significant drawback?
This depends on the buyer's needs. It reduces the purchase price and property taxes but requires alternative solutions for vehicle storage and workshop space. The home may rely on driveway parking, which is common for many homes of this era and profile.
5. The home sold twice recently. Is that a concern?
The property sold in 2020 and again in 2022. While this could indicate rapid turnover, it is not inherently negative. It may reflect investor activity, personal circumstances of the previous owners, or the home’s appeal as a value-oriented entry point into the market. Title history and a home inspection would provide clearer context.