Property Overview: 374 Moray Street
Key Characteristics & Appeal
This 1960-built, three-level split home in Winnipeg's Booth neighbourhood sits on a large 7,687 sqft lot, a feature that ranks in the top third for the area. With 1,535 sqft of living space and a renovated basement, the home offers practical, multi-level living. Its appeal is rooted in a blend of space, location, and value. The lot size is a significant asset, offering ample outdoor potential in a city where such spacious plots are increasingly rare. The recent basement renovation adds modern, functional space without the immediate need for major investment.
The home would suit practical buyers looking for a solid foundation in a well-established neighbourhood. It’s ideal for those who value private outdoor space over a brand-new build, and for hands-on owners who might see potential in the original 1960s structure of the main living areas. The significant jump in assessed value over the past seven years suggests the area is on an upward trend, making it a sensible choice for buyers with an eye on long-term value growth in a mature community.
Frequently Asked Questions
1. How does the lot size compare to others nearby?
The 7,687 sqft lot is notably larger than average, ranking in the top 34% within the broader neighbourhood. This provides exceptional yard space compared to many surrounding properties.
2. What does the "renovated basement" typically include?
While exact finishes aren't specified, a renovated basement in a home of this era generally means updated living space, possibly with a recreational room, additional bedroom, or modernized utilities. Verification of permits and the scope of work is recommended.
3. The home was built in 1960. What should I be aware of?
While the basement has been updated, the main living areas retain their original character. Buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, and consider the energy efficiency of original windows and insulation.
4. The recent sale price is higher than the assessed value. Why is that?
Assessed values are for municipal tax purposes and often lag behind the current market. The sale price reflects what a buyer was willing to pay in the competitive 2024 market, indicating strong buyer demand for homes with these features in this location.
5. How stable is the property value in this area?
The sale history shows a substantial increase from 2017 to 2024. While past performance doesn't guarantee future results, this trend, combined with the home's above-average rankings for lot and living area size, suggests a history of solid value retention in the Booth neighbourhood.