Property Overview: 98 Millbrook Lane, Canterbury Park
Key Characteristics & Appeal
This 1987 bi-level home at 98 Millbrook Lane presents a specific and practical value proposition. Its key characteristic is a generous 4,140 sqft lot, which is notably larger than most on its street and in the Canterbury Park neighbourhood. This offers significant outdoor space potential in a mature community. The home itself is compact, with 696 sqft of living space, and features a renovated basement but no garage. Its last recorded sale was in 2017 for $241,000, with a current assessed value around $309,000.
The primary appeal lies in the land-to-structure ratio. For the price, you are acquiring a sizable lot in a stable area, making it a candidate for expansion, gardening, or simply enjoying more private outdoor room than is typical. It suits buyers looking for an entry point into homeownership with a focus on land, downsizers seeking minimal interior upkeep but wanting outdoor space, or investors considering future development potential (subject to zoning). It’s a pragmatic choice for those who prioritize location and lot size over immediate move-in square footage.
Frequently Asked Questions
1. Is the 696 sqft living area the total for the home?
Yes, that figure represents the above-ground living area. The home is a bi-level, so the renovated basement provides additional, lower-level space that is not included in that official living area square footage.
2. How does the lack of a garage impact daily life and value?
It necessitates alternative parking and storage solutions, which is a common trade-off for older homes in established neighbourhoods. The large lot, however, may provide room to add a shed or future parking pad, partially offsetting this.
3. The assessed value seems lower than area averages. Why?
The assessed value reflects the property’s specific attributes: a smaller-than-average home on a larger-than-average lot. The valuation balances the premium for the land against the modest size and age of the dwelling itself.
4. What does "renovated basement" typically mean for a home of this age?
In a 1987 bi-level, this likely indicates updated finishes and possibly added living space in the lower level. It’s a significant functional upgrade, but buyers should verify the scope, permits, and the condition of fundamental elements like plumbing and electrical.
5. Who would this property not be a good fit for?
It would likely not suit a family requiring multiple bedrooms and ample immediate living space without undertaking a major addition. It’s also less ideal for buyers who prioritize a modern, turn-key home or who require attached vehicle storage.