Property Overview: 427 Wallasey Street
Key Characteristics & Appeal
This two-storey home, built in 1963, presents a solid opportunity in Winnipeg's Booth neighbourhood. Its primary appeal lies in a combination of generous space and recent investment. The 1,518 sqft living area is notably larger than most homes on the street (ranking in the top 14%), and it sits on a substantial 6,187 sqft lot. A key feature is the renovated basement, adding modern, functional space. The property’s value trajectory is positive, with a recent sale price significantly higher than its previous sale and current assessed value, suggesting a market recognition of its condition or potential.
This home would suit practical buyers looking for room to grow without a premium price tag. It’s ideal for a young family needing more interior space than newer builds typically offer, or for value-conscious buyers who appreciate a renovated basement but may be willing to update other areas over time. A less obvious perspective is its appeal to those who prioritize lot size for gardening, outdoor play, or future expansion, as the land area is a standout feature. The neighbourhood rankings show it sits in a relatively established and stable part of Booth.
Frequently Asked Questions
1. What is the significance of the recent sale price compared to the assessed value?
The home sold for $430k in August 2024, which is substantially higher than its $35.4k assessed value. This is common, as assessed value for tax purposes often lags behind market value. The sale price reflects what a buyer recently agreed to pay based on the home's condition, features, and current market.
2. How does the living space compare to nearby homes?
At 1,518 sqft, this home offers more living area than 86% of the properties on Wallasey Street and 72% of those in the broader Booth neighbourhood, making it a spacious option in the area.
3. What should I know about the age of the home?
Built in 1963, the home is older than 77% of houses on its street. While it has a renovated basement, a prospective buyer should budget for potential updates to major aging components like the roof, windows, or mechanical systems, which is typical for homes of this era.
4. Is the lack of a garage a major drawback?
The property has no garage. This is a trade-off for the large lot and may suit buyers who prioritize indoor or yard space over vehicle storage, or who would consider adding a garage or shed later.
5. How does the neighbourhood rank for investment?
The data shows mixed signals. While the home's own value has risen sharply, the street and neighbourhood rankings for metrics like year built and assessed value are mid-tier. This suggests the area isn't the most rapidly appreciating, but a well-maintained, spacious property like this one can still perform well individually.