2 Canoe Bay – Property Summary
Key Characteristics & Suitability
This is a 1,131 sqft home built in 1965, sitting on a 5,797 sqft lot in the Westwood area. The property is priced around the median for its street, with an assessed value of $354,000. What stands out here is the lot: it ranks in the top 24% on Canoe Bay, meaning you get more outdoor space than most neighbours. The home itself is slightly older than average for the street (built 1965 vs. 1966 average), but it's still within a tight range.
The appeal is practical rather than flashy. You're not getting a oversized house for the price, but you are getting a decent-sized yard in a street where lots tend to be smaller. This makes it a good fit for someone who values outdoor space—gardening, a workshop, or room for kids and pets—over square footage inside. It also suits buyers who want to be in a stable, mid-century neighbourhood without paying a premium for a fully updated home. The Westwood area itself is established, and this property sits around the middle of the pack for both assessed value and living area citywide, which suggests it's fairly priced relative to the broader market.
Frequently Asked Questions
1. How does the lot size compare to other homes in Westwood?
The lot is 5,797 sqft, which is above average for the street (ranked 9th out of 37) but slightly below the neighbourhood average of 6,491 sqft. You're getting a bigger yard than most immediate neighbours, but it's not unusually large for Westwood as a whole.
2. Why is the assessed value lower than the neighbourhood average?
The neighbourhood average assessed value is $392,100, while this property is valued at $354,000. That gap likely reflects the home's smaller living area (1,131 sqft vs. 1,372 sqft neighbourhood average) and the fact that it hasn't been recently updated. It's not overpriced for its size and condition.
3. Is the home's age a concern?
Built in 1965, it's slightly older than the street average (1966) but in line with much of Westwood. Many homes from this era have solid bones but may need updates to mechanicals, windows, or insulation. A home inspection would clarify what's been done and what might need attention soon.
4. Who typically buys in this area?
Westwood tends to attract families and long-term homeowners. The mix of modest homes and larger lots appeals to people who want more land than newer subdivisions offer, without the higher price tag of more central neighbourhoods. It's not a trendy area, but it's stable and quiet.
5. What does "ranked top 24% on the street" actually mean for resale?
A top-quartile lot on your street can be a selling point down the line, especially if neighbouring lots are smaller. It gives you options—adding a garage, a garden suite, or just having more privacy. That said, the home's interior condition and overall market demand will matter more for resale than the lot rank alone.