Property Summary: 299 Wallasey Street
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Winnipeg’s Booth neighbourhood offers a practical and grounded opportunity. Its primary appeal lies in a combination of generous outdoor space and a renovated basement, presenting a solid foundation for both comfortable living and future value addition.
The property sits on a large 5,220 sqft lot, which is notably above average for both the street and the wider area. This provides significant private outdoor space—a valuable asset for families, gardeners, or anyone seeking room to expand or enjoy the outdoors. The home itself, built in 1960, is of a manageable size at 1,082 sqft and features a key modern update: a renovated basement, adding valuable finished living space.
This home would suit first-time buyers or practical downsizers looking for a home with immediate livability and clear potential. The large lot is its most compelling feature, offering a blank canvas for landscaping, play areas, or even future expansion (subject to regulations). Its assessed value remains modest, suggesting a manageable property tax burden. A thoughtful perspective for buyers is to consider the 2017 sale price, which was significantly higher than the current assessed value; this indicates a market correction and may represent a chance to enter at a stable, grounded level.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on the finish quality, permits, and the nature of the space (e.g., legal suite, recreation room, additional bedrooms) are not provided. This is a key detail to verify with the seller or a viewing.
2. How does the large lot size benefit me practically?
Beyond gardening, the above-average lot offers better privacy from neighbours, more natural light, and ample space for sheds, play structures, or parking. It also typically means a higher portion of the property's value is in the land, which can be advantageous over the long term.
3. The home sold for much more in 2017. Is this a concern?
Not necessarily. The 2017 price likely reflected a different, hotter market. The current, lower assessed value aligns more closely with recent area benchmarks and suggests a realistic, potentially more sustainable entry point for today's buyer.
4. There's no garage. How is street parking and vehicle storage?
With no garage, assessing on-street parking availability and restrictions on Wallasey Street is important. The large lot may offer potential for a future parking pad or shed for storage, subject to city bylaws.
5. The home ranks average or below in some size/age categories for the area. Should I be worried?
These rankings provide context, not verdicts. The home is not the newest or largest on the block, but it offsets this with its prime lot size and updated basement. It represents a balanced offering, where you're paying for the land and livable space without a premium for top-tier finishes or square footage.