Property Overview
85 Gables Court is a two-storey home built in 1976, situated on a generous 2,859 sqft lot in Canterbury Park. The home features 1,080 sqft of living space and a renovated basement. It does not have a garage or pool. The property last sold in September 2023 for $19,500 and has an assessed value of $25,700.
Key Characteristics & Appeal
This home’s primary appeal lies in its land and location within its immediate streetscape. The lot size is notably above average for Gables Court itself, placing it in the top 22% on the street, which offers more outdoor space than many of its direct neighbors. While the living area is modest, the renovated basement adds functional space. The 1976 build date is the oldest on the street, which can suggest a well-established streetscape with mature landscaping.
It would best suit a value-conscious buyer looking for a solid entry point into a quiet neighborhood. It’s a practical choice for someone who prioritizes yard space over a large interior or modern fixtures, and who sees potential in a home with a recently updated basement. The very low sale price from 2023 indicates it may be ideal for an investor, a first-time buyer comfortable with a project, or someone seeking a minimal property tax base.
Frequently Asked Questions
1. Why was the 2023 sale price so much lower than the assessed value?
This typically indicates a non-arms-length transaction (such as between family members) or the sale of a property in need of significant renovation. It does not reflect the current market value for a standard, open-market sale.
2. What does "renovated basement" imply?
While specific finishes aren't listed, this generally means the basement has been finished into livable space, such as a rec room or additional bedrooms. Buyers should verify the quality, permits, and moisture control of this renovation.
3. How does not having a garage affect daily life and value?
It means relying on street parking, which can be a consideration in winter. For this price point, it's a common trade-off and keeps purchase costs and taxes lower, but it may affect resale appeal for some buyers.
4. The home is older than most in Canterbury Park. Should I be concerned?
The year built (1976) is actually around the city-wide average. Its status as the "oldest on the street" is a quirk of Gables Court and suggests the neighborhood developed around the same time. A thorough inspection for aging components like the roof, windows, and major systems is always recommended.
5. Are the property taxes likely to be low?
Yes, based on the current assessed value of $25,700, the property taxes would be comparatively very low for Winnipeg. This is a key financial advantage of the property.