Property Overview & Key Characteristics
40 Millfield Drive presents as a well-situated, mid-century home that offers solid value within its context. Built in 1980, it is notably newer than many homes on its own street and in the broader Minnetonka area, which may translate to fewer concerns about the age of major components like roofing or foundation. With 1,244 sqft of living space, it provides a practical footprint that is very typical for the immediate neighbourhood, suitable for a small family, couple, or downsizer.
The home’s primary appeal lies in its strong assessed value ranking, which is above average on its street and city-wide, suggesting it is viewed favorably by assessors relative to its peers. A thoughtful perspective is the lot size: while it is smaller than most on Millfield Drive, it is actually above average for the city overall. This indicates a neighbourhood of generally larger lots, so buyers should weigh the trade-off between a manageable yard and the potential for less privacy or expansion space compared to neighbours.
This property would best suit a value-conscious buyer looking for a move-in ready home in an established area, who prioritizes a newer build year and a solid assessment over having a large lot. It’s also a sensible choice for someone who appreciates a home that performs well on key metrics without being an outlier in size or price.
Frequently Asked Questions
1. How does the 1980 build year compare to nearby homes?
This home is newer than most on its street, where the average build year is 1961. In the broader Minnetonka area, it is also above average, with comparable homes averaging a 1975 build year.
2. The lot seems smaller than others on the street. Is that a concern?
The lot is 6,951 sqft, which is below the street average of 11,117 sqft. However, it is still larger than the average city-wide lot. This means you’ll have a more manageable yard, but potentially less space from neighbouring homes compared to others on the block.
3. What does the “above average” assessed value ranking mean?
The assessed value of $45,800 ranks in the top 21% on Millfield Drive and the top 27% city-wide. This generally indicates the municipality views the property’s value as strong compared to similar homes, which can be a positive signal for underlying value.
4. What was the home’s previous sale price?
Public data indicates it sold between CA$350,000 and $400,000 in 2020. The exact sale price is available upon request via email from the listing service.
5. How does the living space compare to the area?
At 1,244 sqft, the living area is very close to the average for Millfield Drive (1,229 sqft) and slightly below the average for the city overall (1,342 sqft). It represents a standard, mid-size layout for the neighbourhood.