334 Thompson Drive

Property Overview

This well-established, single-storey home on a large, 8,466 sqft lot in Winnipeg's Booth neighbourhood presents a classic and practical opportunity. Built in 1968, its key appeal lies in its generous land size, which ranks highly for the area, offering ample outdoor space for gardening, play, or future expansion. A renovated basement adds valuable, modernized living space. The home’s recent sale price in 2022 was notably higher than its current assessed value, suggesting a purchase at or near assessment could represent a solid entry point into the neighbourhood. It suits first-time buyers seeking a manageable single-level layout with room to grow, or value-focused investors attracted by the lot size and renovation upside. Its strong rankings for lot size and past sale price within its immediate street and wider area indicate it’s a competitive property in its niche, likely appealing to those who prioritize land over a new build or extensive modern finishes.

Frequently Asked Questions

Q: What does the "renovated basement" likely include?
A: The listing specifies it is renovated but not the scope. Buyers should inquire for details, but in homes of this era, this often means updated flooring, drywall, and lighting, potentially creating a separate living, recreational, or utility space.

Q: With no garage, what are the parking options?
A: The property likely has a driveway. Given the very large lot, there is clear potential to add a garage or carport, subject to local bylaws and permits, which is a key consideration for future improvement plans.

Q: How does the 2022 sale price compare to now?
A: The home sold for $47.6k in April 2022, which is significantly above its current $40.8k assessed value. This gap may reflect market adjustments, the assessed value lagging behind recent sales, or specific property conditions. It’s a crucial point for valuation discussion.

Q: The home ranks highly for lot size but lower for year built. What does this mean?
A: This highlights the property’s core trade-off: you are purchasing a larger-than-average parcel of land in the area, but the structure itself is older than many in its immediate neighbourhood. The value is weighted toward the land asset.

Q: Are the nearby comparison properties truly similar?
A: The listed "similar assessed value" properties are in a different neighbourhood (Elmhurst), so they are primarily for financial comparison. For a true sense of value, focus on the provided "Worth viewing" and "For reference" homes in Booth, which offer a better local market comparison.