86 Canoe Bay – Property Summary

Key Characteristics & Buyer Profile

This 1965 bungalow sits on a 5,497 sqft lot with 1,043 sqft of living space and an assessed value of $368,000. The standout feature is its assessed value relative to the street: it ranks 10th out of 37 homes in Canoe Bay, sitting above the street average of $355,700. The year built (1965) also places it slightly newer than many neighbours. However, the living area is below the street average (1,193 sqft) and well below the neighbourhood average (1,372 sqft). The lot is also smaller than typical for Westwood.

The appeal here is subtle but real. You’re getting a home that’s valued higher than its immediate neighbours—likely reflecting some updates or desirable features—but without paying a premium compared to the broader city or neighbourhood. The below-average living area might deter those needing space, but it could signal a more efficient layout or a property that’s been well-maintained rather than expanded. It’s not a flashy listing, but it offers relative value in a street where comparable homes cost less.

This property would suit a buyer who prioritizes location over square footage—perhaps a couple, a single person, or a downsizer who wants a manageable home in a stable area without overpaying. It may also appeal to someone looking for a property with modest upside potential, as the living area gap suggests room for future additions if zoning allows. It’s less suited to families needing extra bedrooms or a large yard.

Five Possible FAQs

1. How does this home compare to others on Canoe Bay?
It ranks above average in assessed value (top 27%) and year built (top 30%), but below average in living area (top 81%) and around average in lot size (top 54%). So it’s a smaller home that’s valued higher—likely reflecting condition or finishes rather than space.

2. Is this property considered a good deal for the neighbourhood?
Relative to the street, yes—you’re getting a home assessed above the street average. Relative to the broader Westwood neighbourhood and city, it’s around average in value. The smaller living area means you’re paying for quality or location rather than raw square footage.

3. Why is the living area ranking so different from the assessed value ranking?
Living area is just one factor in assessed value. Condition, layout, upgrades, and lot characteristics can all push value higher even if the home is compact. This property likely compensates with features that aren’t captured by square footage alone.

4. How does the lot size affect the property’s usability?
At 5,497 sqft, the lot is noticeably smaller than the Westwood average (6,491 sqft). That means less yard maintenance but also less space for gardens, sheds, or future extensions. It’s a trade-off that suits low-maintenance living.

5. What should I look into before making an offer?
Check the condition of the 1965 structure—roof, windows, mechanicals, and foundation are the typical concerns at this age. Also confirm whether the living area figure includes finished basements or additions, as that could shift the comparison. Finally, look into any zoning restrictions on the lot size if you’re considering an expansion.