Property Overview & Key Characteristics
83 Norlorne Drive is a well-established, one-storey bungalow in the Betsworth area of Winnipeg. Built in 1981, the home sits on a spacious 5,505 sqft lot and features 1,366 sqft of living space. Key features include a finished basement and an attached garage. The property presents a compelling value proposition, with its municipal assessment of $462,000 ranking notably higher than most homes locally, suggesting solid underlying value for the area.
Its primary appeal lies in its move-in-ready simplicity and spacious lot, offering a low-maintenance, single-level living format. The home’s age is a double-edged sword; while it may require updates, it also means the structure is settled and the neighborhood is mature with established greenery. This property would suit first-time buyers looking for a foothold in a quiet neighborhood, downsizers seeking a manageable bungalow layout, or value-oriented investors attracted by the strong assessment-to-price potential and the appeal of a finished basement for rental income or family flexibility.
Frequently Asked Questions
1. What is the significance of the high assessment ranking?
The assessment indicates the city’s valuation of the property is higher than 76% of all Winnipeg homes, which often correlates with a strong foundation for resale value and can be a positive factor for mortgage financing.
2. Is the age of the home (45 years) a concern?
While the 1981 build means major systems like roof, windows, and plumbing may be due for inspection or updates, it also means the home is past its initial settling period. The excellent "newness" ranking for the street (top 7%) indicates it is actually one of the newer homes in its immediate area.
3. Who would this floor plan suit best?
The one-storey layout is ideal for those looking to avoid stairs, such as young families with toddlers, individuals planning for long-term accessibility, or empty-nesters. The finished basement adds crucial flexible space for recreation, guests, or a home office.
4. How does the lot size compare?
At over 5,500 sqft, the lot is generously sized for the neighborhood, offering ample private outdoor space for gardening, play, or entertaining, which is a key asset not easily changed.
5. The community ranking seems low. What does that mean?
The ranking reflects the home’s specific metrics (like size and value) within the larger, diverse Betsworth community. It suggests this is a more modest home in an area that includes larger or higher-value properties, which is precisely what can make it an affordable entry point into a stable neighborhood.