Property Overview
This 1972-built bungalow at 5649 Betsworth Avenue presents a compelling opportunity in Winnipeg's Betsworth neighbourhood. Its primary appeal lies in offering above-average space and land on a single level, combined with strong market performance indicators. The home features 1,790 sqft of living space and sits on a large, approximately 9,299 sqft lot. A key asset is the finished basement, which adds significant functional space. The property boasts impressive rankings, consistently placing in the top tiers of its street, neighbourhood, and the wider city for lot size, living area, and assessed value. Notably, its 2022 sale price of $575,000 ranks in the top 9% city-wide, suggesting a history of value appreciation. The home suits buyers looking for a spacious, single-storey layout—ideal for empty-nesters, small families, or those seeking minimal stairs. Its broad, above-average rankings across multiple metrics also make it a solid candidate for value-conscious buyers or those viewing real estate as a long-term investment.
Frequently Asked Questions
1. What is the significance of the property's high rankings?
The rankings show how this home compares to others in its immediate area and across Winnipeg. Consistently high rankings in categories like lot size, living area, and assessed value indicate it is a substantial property relative to its peers, which can be a marker of enduring appeal and stability.
2. The house was built in 1972. What should I consider?
While the home is over 50 years old, its strong market performance suggests it has been maintained and updated. A pre-purchase inspection is essential to assess the condition of major aging components like the roof, foundation, plumbing, and electrical systems.
3. How does the 2022 sale price relate to the current assessed value?
The 2022 sale at $575,000 is notably higher than the current $505,000 assessment. Assessments are for municipal tax purposes and can lag behind market shifts. The past sale price is a concrete data point showing what a buyer recently paid, indicating the property's market value can exceed its assessed value.
4. Who would this property not be suited for?
Buyers seeking a modern, open-concept layout or a brand-new home may find the 1972 floor plan requires updates. Additionally, those with a strict budget near the assessed value should be prepared for the possibility of competitive bidding, given its history of selling above assessment.
5. What are the advantages of a finished basement in a bungalow?
In a bungalow, the finished basement effectively doubles the usable living space without adding stairs between main living areas. It provides crucial flexible space for a recreation room, home office, guest suite, or additional storage, which is a significant benefit for a single-storey home.