Property Overview & Appeal
346 Thompson Drive is a well-situated one-storey home in Winnipeg's Booth neighbourhood, built in 1960. Its primary appeal lies in a combination of generous outdoor space and a home that has seen significant updates. The nearly 8,550 sqft lot is notably larger than most in the area, ranking in the top 20% of the neighbourhood, offering rare potential for gardening, expansion, or simply ample private space. The home itself features a renovated basement, adding valuable finished living area to the 1,227 sqft main floor. A detached garage provides additional storage or workshop space.
The property’s strong market performance is a key characteristic; it sold for $480k in July 2023, a price that places it in the top 5% of the neighbourhood historically, suggesting buyers recognized its premium attributes. This home would suit buyers looking for a move-in-ready property with a major renovation already completed (the basement), and who prioritize a large, established lot over having a brand-new build. It’s also a compelling option for those who analyze market trends, as its recent sale price indicates it’s positioned in the higher tier of its immediate area.
Frequently Asked Questions
1. How does the lot size compare to nearby homes?
The 8,545 sqft lot is a standout feature, larger than approximately 80% of properties in the Booth neighbourhood. Neighbouring properties on the same street typically have smaller lots.
2. The home was built in 1960. What should I expect?
While the basement has been renovated, the main structure is from 1960. Prospective buyers should budget for updates to aging core components typical of the era, such as plumbing, electrical, or the roof, even though some systems may have been upgraded over time.
3. Why is there a large difference between the assessed value ($43.1k) and the 2023 sale price ($480k)?
The assessed value is for municipal tax purposes and is not intended to reflect market value. The recent sale price is a far more accurate indicator of the property's current market worth.
4. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or quality. It is essential to view the property and ask for details on the finishes, permits, and the work done to understand its condition and value fully.
5. How does this property rank for its age on the street?
Being built in 1960, this home is older than about 76% of other houses on Thompson Drive. This suggests the street has seen newer infill development, so the character of the block may be a mix of original and more recent homes.