51 Agassiz Drive

Property Overview

51 Agassiz Drive is a well-situated, one-storey home in Winnipeg's Agassiz neighbourhood. Its primary appeal lies in its generous, above-average lot size and a recently renovated basement, offering a blend of space and modern updates. The home suits first-time buyers or downsizers looking for a manageable single-level layout with room to grow, as well as value-focused buyers who prioritize land size and the potential of a move-in-ready lower level over a recently built structure.

Key Characteristics & Appeal

The standout feature of this property is its land. At over 6,200 square feet, the lot size ranks in the top 5% for both its street and the wider Agassiz neighbourhood, offering rare outdoor space for gardening, recreation, or future expansion. The home itself provides a comfortable 1,205 sqft of living space, which is larger than most on the street. A key update is the renovated basement, adding functional living area. The detached garage offers classic flexibility for parking, storage, or a workshop.

Its appeal is nuanced. While the house is older (built in 1961), the updated basement and sizable lot present a solid value proposition. It’s a property that offers more outside space than is typical, which can be a wiser long-term investment than a newer home on a smaller plot. It would suit practical buyers who see the potential in the lot and the finished basement, rather than those seeking a turn-key, modern build throughout. The historical sale prices show steady appreciation, suggesting a stable investment in a mature, established area.

Frequently Asked Questions

1. What is the true significance of the lot size rankings?
Being in the top 5% for lot size on the street and in the neighbourhood means you are getting significantly more outdoor space than most properties nearby. This is a permanent advantage that can’t be easily altered and often contributes to better privacy, landscaping potential, and property value.

2. The home is older. What should I consider?
While the basement has been renovated, the main living area dates to 1961. Buyers should budget for updates to major aging components (like the roof, windows, or plumbing) and consider an inspection focused on the structure and original systems. The value here is in the land and the renovated space below.

3. How does the assessed value relate to the likely selling price?
The assessed value ($42.3k) is for municipal tax purposes and is typically far below market value. Recent sale prices in the area are a better guide. The home last sold in 2019 for $338k, and market conditions will determine its current value.

4. What does the "Sold" price ranking indicate?
The rankings for the 2019 sale (e.g., "Top 2% in neighbourhood") show that price was historically high for Agassiz at that time. This indicates the property has previously commanded a premium, likely due to its desirable lot and updates, but it's essential to see how current market conditions compare.

5. Is the renovated basement a legal suite?
The description states it is a "renovated basement," not a legal suite. This is an important distinction for financing, insurance, and potential rental income. Buyers should verify its permitted use and ensure renovations were done with proper permits to avoid future liabilities.