Property Overview: 78 Malone Street, Winnipeg
Key Features & Ideal Buyer
This well-situated two-storey home in Betsworth offers a classic layout with notable updates and strong neighborhood standing. Its key characteristic is a renovated basement, adding valuable finished living space to the 1,840 sqft footprint. The home sits on a large, 6,384 sqft lot—a significant asset that ranks in the top 9% for size on its street—and includes an attached garage.
The appeal lies in its balanced position within established community metrics. It's not the newest on the block, but it outperforms most area homes in living space and lot size. This creates a value proposition for buyers seeking room to grow or entertain outdoors without moving to the urban fringe. It would particularly suit practical buyers who prioritize space and a turn-key basement over a brand-new build, and who appreciate a home that holds its own in neighborhood rankings for core attributes like lot dimensions and interior square footage.
Frequently Asked Questions
1. How does the home’s age affect its value?
Built in 1976, the home is older than 91% of houses on its street. This typically means more established landscaping and neighborhood character, but buyers should focus on the condition of major systems (roof, windows, HVAC) which may have been updated over time, and consider the benefit of the renovated basement.
2. What do the ranking percentages actually tell me?
They show how this property compares to others in the immediate area, the wider neighborhood, and all of Winnipeg. For example, ranking in the "Top 9%" for lot size on its street confirms the parcel is genuinely larger than most nearby, a tangible advantage.
3. The assessed value seems low. Why is that?
Municipal assessed value for tax purposes ($46,80k) is often significantly lower than market value and is based on a prior valuation date. The last sold price in 2016 was $42,000k, and current market value would be determined by recent comparable sales and present condition.
4. Is the renovated basement a legal suite?
The listing states it is a "renovated basement." This describes the finish and condition only. Whether it is a legal secondary suite with separate entrance and kitchen facilities is not specified and would require verification with the seller and city permits.
5. How stable is the property’s value in this area?
The home’s assessed value ranks solidly in the top third of the neighborhood and city, suggesting it aligns with area norms. Its strong rankings for lot and living space—attributes that don't change—provide a stable foundation for value compared to homes on smaller lots.