Property Overview: 282 Ronald Street, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, one-storey home built in 1962, situated on a notably large lot of nearly 11,000 square feet in the Booth neighbourhood. Its primary appeal lies in the combination of generous outdoor space and recent updates. The home features a renovated basement, adding valuable finished living area to the 1,148 sqft main floor, and includes a detached garage.
The property’s standout feature is its land. The lot size ranks in the top 5% of the neighbourhood and top 5% city-wide, offering exceptional potential for gardening, expansion, or simply enjoying ample private space—a rarity in many urban areas. Recent market activity confirms strong interest; it sold in December 2024 for $44.10k, a price that ranks in the top 12% of the neighbourhood, suggesting buyers recognized its underlying value.
This home would suit a practical buyer looking for a solid, move-in-ready base with significant lot value. It’s ideal for someone who prioritizes outdoor space over a large interior footprint, or for a long-term buyer who sees the potential in the substantial lot for future projects. Its recent sale also makes it a relevant benchmark for neighbours considering their own property value.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
Ranking in the top 5% for lot size in both the neighbourhood and Winnipeg means this property’s land area is significantly larger than most. It’s a key asset, offering more privacy and flexibility than typical city lots.
2. The home sold recently. Why is that important?
The December 2024 sale provides a clear, current market value benchmark. The sale price ranked highly in the area, indicating that the market placed a premium on this specific property, likely due to the lot and renovations.
3. How does the assessed value compare to the sale price?
The assessed value is $37.50k, but it sold for $44.10k. This difference is common, as assessed values for tax purposes often lag behind actual market values, which are determined by recent buyer demand.
4. Is the age of the home (1962) a concern?
While the structure is 64 years old, key updates like a renovated basement show proactive maintenance. The "average" year-built ranking for the street suggests the home fits the character of the established neighbourhood.
5. What can the rankings for living area tell me?
The living area ranks in the top third of the neighbourhood, meaning the interior size is above average for the area. Combined with the renovated basement, the total usable space is competitive, even though the main footprint is a classic one-storey layout.