455 Wallasey Street

Property Overview

This 1960 one-storey home in Winnipeg's Booth neighbourhood presents a practical opportunity. Its primary appeal lies in the combination of a renovated basement and a significantly larger-than-average land parcel of over 7,000 square feet. With a living area of 1,498 sq ft, the home offers ample space and ranks highly in size compared to most on its street and in the wider city. The assessed value has remained stable, showing modest growth since its last sale. This property would suit a buyer looking for a solid, no-frills home with room to grow, either indoors thanks to the finished basement or outdoors on the generous lot. It's a pragmatic choice for those prioritizing space and value over newer construction or luxury finishes, potentially appealing to young families, investors, or downsizers seeking single-level living with expansion potential.

Key Questions & Considerations

1. What does the "ranking" data actually mean for me?
The rankings show how this property compares to others in specific areas. For example, its land size is in the top 17% in Winnipeg, a major advantage, while its year built is newer than only 38% of Winnipeg homes, indicating it's an older structure. This helps you weigh its strengths (space) against typical trade-offs (age).

2. The assessed value is $35.4k, but what would it likely sell for?
Assessed value is for municipal tax purposes and is typically much lower than market value. The last sale was $34.5k in 2021. You must look at recent sale prices of similar homes in Booth and nearby neighbourhoods to determine the current market price, which will be substantially higher.

3. Is the "renovated basement" a full legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. This is a critical distinction for rental income or mortgage purposes. You would need to verify its compliance with local codes and permits.

4. There's no garage. How is parking?
The property has no garage. You should investigate on-street parking regulations, the width of the driveway (if any), and the potential to add a parking pad or structure, subject to local bylaws.

5. The lot is large. Are there any restrictions on its use?
A 7,022 sq ft lot offers great potential. However, you should check for any easements, zoning restrictions (R1, R2, etc.), or community guidelines that might affect plans for additions, sheds, fences, or landscaping.