Property Overview: 551 Community Row, Winnipeg
Section 1: Key Characteristics & Appeal
This is a substantial and character-filled two-storey home in Betsworth, built in 1932. Its primary appeal lies in its generous scale and mature, private setting. With over 2,300 square feet of living space and a nearly 16,000 sqft lot, it offers room that is rare to find in newer builds. The home features a finished basement and an attached garage.
The property’s standout feature is its exceptional ranking for lot and home size within its community and across Winnipeg, placing it in the top 2-5% for space. This creates a unique sense of privacy and potential in a city setting. However, it presents a thoughtful trade-off: the 94-year-old structure, while full of potential charm, ranks very low for its age, indicating significant consideration for maintenance, updates, and systems modernization is essential.
This home would best suit a specific buyer: one who values space, privacy, and classic architecture over modern convenience, and who is prepared for the stewardship of a historic property. It’s ideal for a growing family seeking room to spread out, a multi-generational household, or a buyer with a vision to thoughtfully renovate a character home on a premier lot.
Section 2: Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in its community, and across Winnipeg. For example, being in the "top 2%" for lot size city-wide means 98% of Winnipeg properties have a smaller lot. Conversely, a low ranking for building age means most homes are newer.
2. Is the 2016 sale price relevant today?
It provides a historical benchmark, but market conditions have changed significantly. The current assessed value offers a more recent point of reference, though the final market price is determined by current demand, the home's condition, and buyer competition.
3. What are the less obvious considerations with a 1932 home?
Beyond visible updates, consider the long-term lifecycle of major components: the roof, foundation, plumbing, electrical wiring, and insulation. A pre-purchase inspection is crucial to understand the state of these systems and plan for future investments.
4. How does such a large lot impact ownership?
It offers fantastic privacy and space for gardens or recreation. However, it also means higher property taxes (based on value), more yard maintenance, and potentially higher costs for exterior updates like fencing or landscaping.
5. The home ranks highly for size but average for assessed value. Why?
This likely reflects the market's adjustment for the home's age and the potential cost of updates. The value is heavily supported by the land size and location, while the dwelling itself may be valued conservatively due to its older construction, presenting an opportunity for a buyer to add value through renovation.