Property Summary: 580 Community Row, Winnipeg
Key Characteristics & Appeal
This is a well-established, one-and-a-half storey home in Betsworth, built in 1945. Its primary appeal lies in its generous, mature lot of nearly 11,000 sqft, offering significant outdoor space that is rare in many city neighbourhoods. The home itself features a finished basement and a split garage. While the living area is a modest 1,120 sqft, the property's standout value is its land and location. It ranks in the top 5% of all Winnipeg properties for lot size, indicating exceptional outdoor potential. Recent market activity shows it sold for $280,000 in March 2024, below its current assessed value.
This property would suit a buyer looking for a solid starter home or a long-term investment in land value, who values space for gardening, recreation, or future expansion over a large or modern interior. It’s ideal for someone comfortable with the character and maintenance considerations of an older home but who prizes a large, private yard. The rankings suggest it's a competitively-sized property within its immediate area but offers a lot size that is a true standout city-wide.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Betsworth, and across all of Winnipeg. The key takeaway is that while the house itself is average in size and age for its area, the lot size is exceptionally large, placing it in the top 5% city-wide. This highlights the land as a major asset.
2. Is the finished basement included in the 1,120 sqft living area?
Typically, the listed "living area" or square footage for main floor and upper levels does not include basement space, even if finished. The finished basement is an additional feature that adds functional space.
3. Why did it sell below the assessed value recently?
A sale price below assessment can be influenced by many factors, including market conditions at the time, the property's specific condition, or the terms of the sale. It's a useful data point but doesn't solely determine current value.
4. What are the considerations with a home from 1945?
Homes of this era offer charm and solid construction but may require updates to electrical, plumbing, or insulation. A thorough inspection is essential to understand the condition of major systems and the roof.
5. What is the potential here for a buyer?
The potential is twofold: first, as a comfortable home with ample yard space as-is. Second, the large lot presents future opportunities, whether for extensive landscaping, adding a deck or workshop, or even holding it as a land-value investment in a mature neighbourhood. The split garage also offers flexibility for parking and storage.