Property Summary: 143 Collegiate Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, one-storey home in Bruce Park, built in 1950. Its primary appeal lies in its generous, above-average lot size of over 5,400 sq ft—a standout feature that ranks in the top 9% for the street. This offers significant outdoor space and potential in a city where larger lots are increasingly rare. The home itself is modest in size at 987 sq ft, with a renovated basement and a detached garage, presenting a classic, manageable footprint.
The property suits practical buyers looking for a solid foundation in a mature neighbourhood. It’s ideal for someone who values land over a large existing house, seeing the lot as a long-term asset for gardening, expansion, or future redevelopment. The above-average assessed value for the street suggests the property is already recognized for its underlying value. It would also fit a first-time buyer or downsizer seeking a single-level living space with a low-maintenance profile but without sacrificing yard space.
Frequently Asked Questions
1. Is the lot size truly a significant advantage?
Yes. At 5,423 sq ft, the lot is substantially larger than most on the street (top 9%) and in the immediate Bruce Park area. This provides more privacy, outdoor flexibility, and future potential than a standard lot.
2. The living area is below average for the neighbourhood. Is the house too small?
It depends on your needs. At 987 sq ft, it is compact compared to many Bruce Park homes. However, the renovated basement adds functional space. This layout suits those seeking efficient, single-level living without the upkeep of a larger house.
3. How does the 2021 sale price relate to the current assessed value?
The home sold for $37,600 in 2021, and its current assessed value is $33,600. This suggests a stable, modest valuation in line with recent market activity for the property itself.
4. What does the "above average" year built ranking for Bruce Park mean?
Built in 1950, this home is newer than many in Bruce Park (top 13% for the area). This can imply potentially fewer concerns with very old infrastructure compared to some neighbouring homes built in the early 1900s.
5. Who is this property not well-suited for?
It may not suit buyers who prioritize immediate move-in condition with modern, open-concept layouts or who need substantial above-ground square footage for a growing family without planning a renovation or addition.