Property Overview
This 1986 bi-level home at 62 Millbrook Lane in Canterbury Park presents a specific and practical value proposition. Its key appeal lies in offering a renovated basement and a manageable lot within a mature neighbourhood, at a price point significantly below area averages. With 680 sqft of living space, it is notably compact, ranking at the very bottom for size on its own street. This defines its character: it's a efficient, no-frills home. The land size is average for the immediate lane but smaller than most in the wider neighbourhood and city. The most striking figure is its assessed value of $28.9k, which is exceptionally low compared to nearby homes, though it last sold for $310k in 2021.
This property would suit a very specific buyer: first-time purchasers or investors seeking an entry point into the Winnipeg market with a lower financial barrier. It's also a potential fit for those who prioritize location and land over interior square footage, or someone looking for a minimalist footprint with updated basics (the renovated basement). It is less suited for those needing ample indoor living space or expecting premium neighbourhood amenities for the price.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed value for tax purposes is not the same as market value. This significant gap often indicates major changes or improvements made after the last assessment, or reflects broader market appreciation not yet captured in the tax roll.
2. Is the 680 sqft living area accurate for the whole home?
This figure typically includes only above-grade, finished living space. The presence of a renovated basement suggests additional usable square footage, but it may not be counted in the official "Living Area" metric, which is important to clarify.
3. What does the "below average" ranking for living area mean practically?
It confirms this is one of the smallest homes, not just on the street but in the entire Canterbury Park area. Buyers should be prepared for efficient, compact living and may want to verify if the layout meets their spatial needs.
4. With no garage, what are the parking options?
The listing indicates no garage. Buyers should investigate the driveway capacity and on-street parking regulations on Millbrook Lane to understand daily parking logistics.
5. The home is older; have major systems been updated?
Built in 1986, key components like the roof, windows, furnace, and electrical should be a focus for inspection. The listing notes a renovated basement, but the condition of major structural and mechanical elements will be crucial for long-term value.