Property Overview
74 Millbrook Lane is a compact, one-storey home in Canterbury Park, built in 1987. Its key appeal lies in its renovated basement and its position on a relatively spacious lot for the neighbourhood. The home presents a practical, low-maintenance footprint. It would suit first-time buyers, downsizers, or investors looking for an entry point into a stable area without the upkeep of a larger property. A thoughtful perspective is that while the living space is modest, the lot size is above average for the immediate street, offering valuable outdoor space or future potential that is less common in this price segment.
Frequently Asked Questions
Is the basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, rentable suite. This is a crucial point for investors or buyers seeking rental income, and verification with the seller and local bylaws would be necessary.
How does the sale history affect value?
The home sold for $251,000 in September 2020. The current assessed value is $307,000. This gap suggests market growth, but a buyer should investigate recent comparable sales to understand the current fair market value, which may differ from both figures.
What does "below average" for living area in the neighbourhood mean?
The home's living area (804 sq ft) is significantly smaller than the Canterbury Park average (~1,334 sq ft). This confirms it's a compact home, which translates to lower utility costs and less upkeep, but buyers should ensure the layout meets their spatial needs.
Why is the year built considered "Elite" on its street?
Built in 1987, it is the newest home on Millbrook Lane. This is a relative advantage, potentially meaning newer major components (like roof, wiring, or plumbing) compared to immediate neighbours, but a 39-year-old home still requires a thorough inspection.
What are the implications of having no garage?
The property has no garage. Buyers should consider where vehicles will be parked, especially in winter, and factor in the cost of adding a shed or carport if needed. The larger lot may provide space for such an addition, subject to local regulations.