368 Moray Street

Property Overview

368 Moray Street is a well-situated one-storey home in Winnipeg's Booth neighbourhood, built in 1960. Its primary appeal lies in the combination of a very large, private lot and a recently renovated basement, offering solid value and expansion potential. The home suits first-time buyers seeking space to grow, downsizers looking for manageable single-level living without sacrificing yard size, or value-focused investors attracted by the below-average assessed value and the neighbourhood's stability.

Key Characteristics & Appeal

The standout feature of this property is its 7,688 sqft lot, which is significantly larger than most in the area (top 13% in Winnipeg). This creates rare potential for gardening, outdoor living, or future expansion. The home itself is a practical 1,057 sqft bungalow, complemented by a renovated basement that adds functional living space. A detached garage provides additional storage or workshop space.

Its appeal is grounded in value and potential. The assessed value sits comfortably in the middle range for the area, suggesting a realistic entry point. The 2021 sale price was notably lower than the current assessment, indicating possible equity growth. While the living area is modest, the large lot and finished basement offer immediate utility and long-term flexibility. It would suit a buyer who prioritizes land over a large existing footprint, sees value in a move-in-ready basement suite or recreational space, and appreciates a neighbourhood with established character.

Frequently Asked Questions

Q: How does the lot size compare to a typical city lot?
A: At nearly 7,700 sqft, it is substantially larger than a standard 5,000 sqft Winnipeg lot, offering exceptional outdoor space and privacy for the area.

Q: What does the "renovated basement" entail?
A: The listing confirms the basement is renovated but does not specify the finish. A professional inspection is recommended to confirm the quality, layout, and compliance of the work, and whether it's configured as a rec room, suite, or additional living space.

Q: The home's living area is noted as smaller than many in the area. Is it a concern?
A: It depends on your needs. The 1,057 sqft main floor is compact, but the renovated basement effectively doubles the usable living space, making the overall footprint very functional.

Q: The assessed value seems low. What does that indicate?
A: A below-average assessment can suggest a more affordable property tax burden. It may also reflect the home's modest main-floor size relative to its large lot, presenting a value opportunity for a buyer who sees potential in the land itself.

Q: Is the detached garage a drawback?
A: For some, a detached garage is less convenient in winter. For others, it separates workshop noise and fumes from the house and offers classic charm. Its condition and potential for upgrade or conversion should be evaluated.