Property Summary: 10 Red Robin Place, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This two-storey home in the Booth neighbourhood is defined by its generous proportions and established setting. Built in 1965, it sits on a large 6,596 sqft lot and offers a spacious 2,011 sqft of living area, placing it in the top tier of size for its immediate street and wider area. A key feature is the renovated basement, adding modernized living space. The home’s assessed value is notably low relative to its recent 2022 sale price of $530k, which may indicate significant updates not fully reflected in the assessment or a strong market appreciation.
Its appeal lies in the combination of ample indoor and outdoor space in a mature neighbourhood. The data suggests a property that outperforms most of its local peers in terms of lot size, living area, and recent sale value. It would suit buyers looking for a "larger-than-average" home on a quiet street without moving to a new suburb, or those who value a renovated basement as a key functional space. The significant gap between the assessed value and last sale price also makes it an interesting prospect for buyers attentive to potential property tax advantages relative to market value.
Frequently Asked Questions
1. How does the low assessed value compare to property taxes?
While the assessed value is $48.5k, property taxes are based on the mill rate applied to this assessment. The large difference between this figure and the 2022 sale price ($530k) is notable. A buyer should inquire with the city about any recent assessment updates or potential future adjustments.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. It is essential to clarify the quality, permits, and nature of the renovation (e.g., finished living space, moisture management, ceiling height) as this is a key feature.
3. The home is 61 years old; what major systems should be reviewed?
Given the age, the condition of the roof, foundation, plumbing, electrical, and heating systems should be prioritized in an inspection. The renovation may have updated some, but a thorough evaluation is advised.
4. How does the 2022 sale price inform the current asking price?
The 2022 sale at $530k sets a recent market benchmark. Understanding the current price in relation to that sale, considering market changes and any further improvements made since, is crucial for valuing the home today.
5. The lot is large; are there any restrictions or opportunities?
A 6,596 sqft lot in an established area may offer potential for gardening, expansion, or ancillary structures. Verify any zoning bylaws, easements, or neighbourhood guidelines that could affect its use.