Property Summary: 424 Moray Street, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in the Booth neighbourhood offers a classic Winnipeg combination of a generous lot and practical living space. Built in 1960, its primary appeal lies in its substantial 7,679 sqft lot, which ranks in the top third for size both on its street and in the wider neighbourhood. This presents a significant opportunity for gardening, outdoor living, or future expansion. The home itself features a renovated basement, adding valuable finished space to the 1,059 sqft main floor, and is complemented by a detached garage.
The property suits two main types of buyers. First, it’s ideal for a practical homeowner or young family seeking an established neighbourhood with room to grow outdoors, valuing the potential of the large lot over a brand-new build. Second, it appeals to value-conscious buyers looking for a solid foundation; the home’s assessed value is stable and ranks favourably on its street, suggesting it’s a sound entry point into the market. A less obvious perspective is its appeal to those interested in gradual improvement; the renovated basement provides immediate modern living space, while the main floor offers a canvas for personalized updates over time.
Frequently Asked Questions
1. How does the large lot size impact property value and utility?
A lot of this size (top 35% in the neighbourhood) is a valuable asset in an established area. It provides privacy, space for recreation or gardening, and is often a key driver of long-term value, as land is scarce. It also offers potential for additions like a shed, deck, or even a future garage expansion.
2. The home was last sold in 2016. What does its current assessed value indicate?
The current assessed value of $36,100k is higher than its 2016 sale price of $31,500k, reflecting market appreciation over eight years. Its assessment ranks in the top half on its street, suggesting it is viewed as proportionately valuable within its immediate context.
3. What does the "renovated basement" typically mean for a home of this era?
In a 1960s one-storey home, a renovated basement effectively doubles the usable living area. It often means added bedrooms, a family room, or a utility space that has been modernized, addressing a key need for more space without altering the home’s original footprint.
4. The living area ranks lower on the street. Is the house small?
At 1,059 sqft (excluding the renovated basement), the main living area is modest compared to some neighbours. This reflects the home’s original design. The appeal here is the efficient use of this space combined with the significant lot size and the added basement square footage, offering a balanced live-in/expand-out dynamic.
5. Who might this neighbourhood suit?
Booth is a mature, established neighbourhood. The rankings show this property is on a street with a mix of newer and older homes (top 13% for year built). It suits buyers looking for community character, stable property values, and the convenience of nearby amenities, without being in a brand-new development.