Property Summary: 450 Thompson Drive
Key Characteristics & Appeal
This well-situated two-storey home in Winnipeg's Booth neighbourhood offers a blend of space, established charm, and strong value metrics. Built in 1967, it sits on a generous, nearly 6,000 sqft lot, providing ample outdoor space—a notable asset within its street and wider area. The home itself features a renovated basement and a detached garage.
Its primary appeal lies in its standout rankings for living space and value. With 1,666 sqft, it offers more interior room than over 90% of homes on its street and 80% in Winnipeg, making it a spacious option for its locale. The property's assessed value is remarkably high for the area (top 1% on its street), yet its last sold price in early 2023 was $540k, suggesting a market valuation that significantly exceeds its government assessment—a point of interest for value-conscious buyers. This combination suits growing families or those seeking a established neighbourhood character without compromising on interior size. It’s a property that balances the practicality of a renovated basement and large lot with the statistical appeal of being a top-tier home on its block in terms of space and perceived value.
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 finish quality, permitted uses (e.g., legal suite, recreation room), and any updates to plumbing, electrical, or moisture proofing.
2. How significant is the gap between the assessed value and the last sale price?
The 2023 sale at $540k is dramatically higher than the $54.1k assessed value. This is not unusual, as municipal assessments for tax purposes often lag behind market values and use different formulas. The key takeaway is the property's strong market performance relative to its neighbours.
3. Are the lot size and living area competitive for the area?
Yes, notably so. The lot is larger than average for the street, and the living area is in the top 10% locally. This means you're getting more house and more land than most comparable properties nearby.
4. What is the neighbourhood character like?
Located in Booth, the property is near Ness Avenue. The proximity of similar-valued homes on Chalfont, Allbutt, and Apex suggests a consistent, established residential area. The direct neighbours on Thompson Drive are typically close-set, as indicated by the distances provided.
5. What might the "Top 1%" assessed value ranking imply?
This statistic means this home has the highest municipal assessment value on its street. This can sometimes correlate with better upkeep or improvements, but it also means property taxes will likely be among the highest on the block, based on that assessment.