582 Bruce Avenue

Property Summary: 582 Bruce Avenue, Winnipeg

Key Characteristics & Appeal

This is a well-established, one-storey home built in 1963 on a generous 6,495 sqft lot in the Booth neighbourhood. Its primary appeal lies in its balance of space and value. The living area of 1,304 sqft is comfortably above average for the immediate street and neighbourhood, and the lot size is notably large, ranking in the top third locally. A key feature is the renovated basement, adding functional living space. The home last sold in 2018 and its current assessed value is consistent with similar properties across Winnipeg.

Its appeal is grounded in practicality. It suits first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space. The large lot is a standout, offering room for gardening, play, or future expansion, which is increasingly rare. It would also attract value-conscious buyers who see potential in a home with foundational updates (like the basement) and the stability of a mature neighbourhood. The rankings suggest it’s a property that holds its own within its community—not the newest or most luxurious, but one that offers solid fundamentals and space.

Frequently Asked Questions

1. What does the "renovated basement" likely include?
While specifics aren't listed, a renovation typically means the basement has been finished into livable space, such as a rec room, additional bedrooms, or a proper laundry/utility area. It’s a significant value-add, transforming basic storage into functional square footage.

2. How does the lack of a garage affect daily life and value?
For many in mature neighbourhoods, street parking is common. The large lot, however, may offer the possibility of adding a garage or shed in the future, which could be a worthwhile investment for a buyer seeking that convenience.

3. The home is 63 years old. What should I be mindful of?
While the basement is renovated, the core systems (like plumbing, electrical, roof, and windows) may be original or of varying ages. A thorough inspection is crucial to understand the condition and plan for any updates, which is typical for homes of this vintage.

4. The assessed value is $38,800, but what will it likely sell for?
Assessed value is for municipal tax purposes and is often lower than market value. The last sale was in 2018 for $32,500; the current market value will be determined by recent sales of comparable homes, condition, and buyer demand. The assessed value here aligns with similar homes, suggesting it's a reasonably priced entry point for the area.

5. The lot is large, but how is the neighbourhood for families?
The rankings show the property sits on a relatively quiet street (top 62% for lot size on Bruce Ave) within a well-established neighbourhood. The large lot is a major family-friendly asset. Prospective buyers should visit at different times to gauge traffic and neighbour activity to see if the community feel matches their needs.