Property Overview
22 Athlone Drive is a well-established, one-storey home in Winnipeg's Booth neighbourhood, built in 1963. Its primary appeal lies in its generous, mature lot—over 10,500 square feet—which ranks in the top 8% for size on its street. This presents a significant opportunity for outdoor living, gardening, or future expansion. The home itself, with a living area of 1,285 sqft and an unrenovated basement, is a straightforward canvas. Its assessed value is notably modest relative to the lot size and the neighbourhood's overall ranking, suggesting the value is heavily weighted toward the land. This property would suit a buyer looking for a solid, no-frills home in a quiet area who prioritizes a large, private yard over modern finishes. It's also a potential match for long-term investors or those with the vision and budget to customize the home over time, effectively banking on the land value while improving the structure to their taste.
Key Details & Questions
What are the key features of the home?
The home is a one-storey (bungalow) style with 1,285 sqft of living space, a detached garage, and a full basement that is noted as not being renovated. The standout feature is the 10,598 sqft lot, which is substantially larger than average.
How does this property compare to others in the area?
The lot size is exceptional, ranking in the top 6% of the neighbourhood. While the home's living area and year built are around the neighbourhood median, its last sold price (2021) and current assessed value are in the lower tiers, indicating the property may be valued more for its land than its current structure.
What is the neighbourhood like?
Booth is a mature, established neighbourhood. The high rankings for lot size on Athlone Drive suggest it's a street known for spacious, private properties rather than dense housing.
Is this a fixer-upper?
The notation of an unrenovated basement and the age of the home suggest updates will likely be needed. Buyers should budget for modernizing mechanical systems, finishes, and potentially addressing any deferred maintenance, with the understanding that the investment is going into a highly desirable lot.
Why is the assessed value relatively low compared to the lot size?
Municipal assessments often reflect the current state and market value of the entire property. A lower assessment on a large lot can sometimes indicate that the existing home contributes less to the overall value, which may be reflected in property taxes. It's a point for discussion with a real estate professional regarding market value versus taxed value.