Property Overview: 78 Thatcher Drive
Key Characteristics & Appeal
This is a well-situated, single-storey home in Winnipeg's Agassiz neighbourhood, built in 1960. Its primary appeal lies in its exceptional lot size—at over 11,000 square feet, the property ranks in the top 1% on its street and top 10% in the neighbourhood for land area. This presents a rare opportunity for expansion, gardening, or simply enjoying substantial private outdoor space in the city. The home itself is a manageable 1,380 sqft and features a renovated basement. While the house is older and its assessed value is modest relative to the land, the last known sale was for $350k in late 2019, suggesting significant market value is placed on the property's potential. It would suit a buyer looking for a solid foundation in a mature area, with a vision to update or expand the existing home to capitalize on the outstanding lot. It's also a practical fit for those seeking single-level living with a finished lower level.
Frequently Asked Questions
1. Why is there such a large difference between the assessed value and the last sale price?
Property assessments are for taxation purposes and often don't capture full market value, especially for unique properties. The high sale price likely reflects the premium value of the very large lot and the renovated basement, which are major assets not fully reflected in the assessment formula.
2. What does the "rank" information mean?
These rankings compare this property against others on its street, in Agassiz, and across Winnipeg. For example, being in the "Top 1%" for lot size on its street means 99% of homes on Thatcher Drive have smaller lots. It's a quick way to see where this property excels or is more typical compared to its surroundings.
3. Is the lack of a garage a significant drawback?
For some buyers, yes. However, the vast lot size provides ample space to add a garage or workshop, which could be a worthwhile investment and ultimately increase the property's value and utility more than a pre-existing smaller garage might.
4. The home is older—what should I consider?
Built in 1960, the core systems (roof, plumbing, electrical, insulation) may need evaluation or updating. The renovated basement is a positive, but it's wise to understand the scope and quality of that renovation. The age is balanced by the lot's potential and the character of the established neighbourhood.
5. How does this property compare to the nearby references listed?
The comparison properties show that 78 Thatcher Drive offers a uniquely large lot. For instance, nearby homes on Thatcher Drive have similar assessments, but this lot is significantly larger. Compared to homes in other neighbourhoods at a similar assessed value, this property typically offers more land, which is its defining feature.