161 Parkview Street

Property Overview: 161 Parkview Street, Bruce Park

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1918, presents a practical opportunity in Winnipeg's Bruce Park neighbourhood. Its key features include a renovated basement and a detached garage. The appeal lies in its efficient use of space and its position relative to the local market. With 1,112 sqft of living area, the home offers more interior space than many comparable houses on its street. The lot, at 2,713 sqft, is a manageable size for the area.

The property would suit a first-time buyer or an investor looking for a character home with some updates in a central neighbourhood. Its above-average assessed value for the immediate street suggests it is perceived as a solid asset in its micro-market. A thoughtful perspective is that while the home is over a century old, its renovated basement adds modern utility, and its lot size represents a lower-maintenance yard compared to many in the wider city—a potential benefit for those seeking character without excessive upkeep.

Section 2: Frequently Asked Questions

1. How does the home's age affect ownership?
Built in 1918, the home has historic character but may require attention to older components like wiring or plumbing. The renovated basement is a positive update, but a thorough inspection is recommended to understand the condition of the original structure.

2. Is the lot size typical for the area?
Yes. The land area is around the average for Parkview Street but is below the average for both the broader Bruce Park neighbourhood and the city overall. This indicates a more compact, potentially low-maintenance yard in a neighbourhood where lots are generally larger.

3. What does the assessed value indicate?
The assessed value is notably above the average for Parkview Street, ranking in the top 12%. This can signal that the property is considered one of the stronger assets on the block, though market sale price can differ.

4. How does the living space compare?
The living area is a key strength, ranking in the top 27% on its street. This means you get more interior space than most direct comparable homes, making it a relatively efficient footprint.

5. The home sold in 2021; is there a price trend?
It sold for $41,500 in September 2021, which was well above the street average at that time. This past sale supports the pattern of it performing as a higher-value property on its specific block.