That distinction is not a technicality. A house with a permitted secondary suite is valued as a home plus the contribution of its suite, and it sells to owner occupiers who want the mortgage helper. A true multi-family building is valued on income and sells to investors. Applying an income approach to the first category produces a number no lender and no buyer will honour.
Lakeridge itself is a quiet area near Lakewood Civic Centre and the Lakeridge and Briarwood commercial nodes, built around bungalows, bi-levels and two storey family homes on crescents with attached garages. Zoning permissions for suites vary block by block, so the only reliable check is the City of Saskatoon's own file for the specific address, not a neighbour's arrangement.
Suite legality drives the price more than anything else here. Egress windows, fire separation, a separate entrance and a permit are the difference between rent a lender will partly credit and rent counted at nothing. Many suites in neighbourhoods of this vintage were finished by owners and never recorded, so no online estimate or public record shows them. Joel Dyck's hand-reviewed valuation confirms what is on file and prices what is not.