Property Summary: 431 Thompson Drive, Winnipeg
Key Characteristics & Appeal
This is a well-situated, one-storey home in Winnipeg's Booth neighbourhood, built in 1961. Its primary appeal lies in its exceptionally large, private lot—over 12,000 square feet—which ranks in the top 1% for size on its street. The home itself offers a renovated basement and above-average living space compared to most in the area. While it doesn't have a garage or pool, the value proposition is centered on land ownership and space. The property’s assessed value is notably high for its immediate vicinity, suggesting it is viewed as a premium holding on its street.
This home would best suit a buyer looking for a solid, no-frills bungalow with rare outdoor space for gardens, recreation, or future expansion. It’s ideal for those who prioritize lot size over a newer build or certain amenities. The renovated basement adds functional living space, making it practical for families or those needing a flexible layout. Given the strong assessed value and recent sale history, it also presents a stable opportunity for a long-term holder in a mature neighbourhood.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finishes, permits, and whether it includes added bedrooms, a legal suite, or simply updated living space.
2. Why is the assessed value so much higher than nearby homes?
At $46.9k, the assessment ranks in the top 7% for the neighbourhood. This likely reflects the combination of its very large lot size and the renovated condition of the home, as assessed for tax purposes.
3. Is the large lot usable or does it have constraints?
At over 12,000 sq ft, the lot is a major feature. Buyers should verify zoning (R1, R2, etc.) to understand potential for additions, outbuildings, or subdivision, and check for any easements or environmental factors.
4. How does the lack of a garage impact daily life and value?
The home has no garage. Buyers should consider the cost of adding a garage or using alternative parking, and how this aligns with their needs, especially during Winnipeg winters.
5. The home was last sold in 2019. What does that recent history indicate?
The 2019 sale suggests the current owners have held the property for a relatively short period. Understanding their reason for selling could provide useful context, though market conditions have also shifted significantly since that time.