Property Overview
This 1978-built, single-storey home on a large, 8,769 sqft lot presents a classic Winnipeg opportunity. Its key appeal lies in the substantial land size, which ranks in the top 9% city-wide, offering rare potential for expansion, gardening, or outdoor living. The house itself, at 1,262 sqft, provides practical living space and ranks as newer than most in its immediate area. A recent sale in May 2024 at $44,000 above the current assessed value suggests a strong market recognition of these attributes. The property suits buyers looking for a solid bungalow with significant lot value, whether as a long-term family home with room to grow, or as a future investment in land value. It’s particularly well-matched for those comfortable with a home of this vintage and who see the unfinished basement not as a drawback, but as a blank canvas for customization.
Frequently Asked Questions
What does the "rankings" data actually mean?
The rankings compare this property against others on its street, in its neighbourhood, and across Winnipeg. For example, its land size is larger than 91% of all Winnipeg properties, making it a standout feature, while its recent sale price was higher than 73% of city-wide sales, indicating strong market performance.
Is the unfinished basement a major concern?
Not necessarily. For many buyers, an unfinished basement is preferable to a poorly or outdated finished one. It presents no hidden issues to remediate and offers full flexibility to design and finish the space to your own needs and standards, potentially adding significant value.
The home was built in 1978. What should I be aware of?
While the rankings show it's newer than many homes in its area, a home of this age will likely have original or aging core components. A thorough inspection of the roof, windows, plumbing, electrical systems, and the heating/cooling system is essential to understand future maintenance priorities.
There's no garage. How big of an issue is this?
This depends on lifestyle and future plans. The large lot does provide ample space to add a detached garage or carport, subject to local bylaws. For some, the trade-off of a larger yard for the cost and effort of adding a garage later is a worthwhile calculation.
Why did it sell for significantly more than its assessed value?
Municipal assessments for tax purposes often lag behind current market conditions. The sale price reflects what competitive buyers were willing to pay for the combination of a large lot, a well-sized bungalow, and the home's overall condition—factors the market may value more highly than the assessment formula does.