Property Overview: 42 Millwood Meadow, Canterbury Park, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1986, situated on a standard residential lot in Canterbury Park. Its key feature is a renovated basement, adding valuable finished space to the 1,009 sqft main floor living area. The home’s primary appeal lies in its practicality and position as an affordable entry point into the Winnipeg market. It presents a manageable size for maintenance and heating costs, which is a significant consideration given its below-average citywide living area.

The property suits first-time buyers, downsizers, or investors looking for a straightforward, low-maintenance property with modernized below-ground space. Its assessed and recent sale values are notably below both neighbourhood and city averages, indicating a value-oriented opportunity. A thoughtful perspective is that while the lot size is modest for the area, it represents less yard work and could be a perk for those seeking a simpler lifestyle. The home’s age places it above average citywide, suggesting solid, established construction in a mature community, but buyers should be prepared for updates consistent with a 40-year-old property.

Frequently Asked Questions

1. What does "renovated basement" typically include?
While specifics should be verified by a viewing and inspection, a renovated basement in a home of this age and price point often means finished living space such as a rec room, additional bedroom, or bathroom. It indicates the space is insulated, drywalled, and habitable, moving it beyond basic storage.

2. How does the lack of a garage affect daily life and value?
For many buyers, this is a trade-off for the lower price point. It means relying on street parking, which is common in older neighbourhoods, and planning for vehicle maintenance like plugging in block heaters in winter. The value impact is already reflected in the home’s below-average price for the area.

3. The assessed value seems very low compared to the city average. Why?
The "Assessed Value" metric shown (31.50k) is not the market value or sale price. It is a municipal assessment figure used for calculating property taxes. The actual Sale Price in September 2023 was $284,000, which is a more accurate reflection of its market value and is noted as below average for Winnipeg.

4. Is the smaller living area a concern?
It depends on your needs. The 1,009 sqft main floor, combined with a renovated basement, provides efficient living space. It’s ideal for 1-2 people or a small family. The trade-off for the smaller footprint is typically lower utility costs and less space to furnish and maintain.

5. What is the neighbourhood (Canterbury Park) like?
The data shows Canterbury Park is an established, mature neighbourhood where this home’s lot and living area are below the local average. This suggests a community of generally larger, slightly newer homes, positioning this property as one of the more modest and affordable options in the area, appealing to those prioritizing location and budget over size.