Property Overview: 46 Russenholt Street, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 46 Russenholt Street in the Buchanan neighbourhood presents a practical and value-oriented opportunity. Built in 1973, its key characteristics include a renovated basement, a detached garage, and a modest 924 sqft of living space situated on a just-under-5,000 sqft lot.
The appeal lies in its solid fundamentals and relative value. The home sits on a newer-than-average lot for its immediate street and area, and its assessed value is strong compared to local peers, suggesting a well-regarded property in its micro-market. The renovated basement adds functional living space. While the living area is compact, the layout may appeal to those seeking efficient, manageable space. The lot size, though below average for the street, is close to the citywide norm, offering a balanced yard without excessive maintenance.
This property would suit first-time buyers, downsizers, or practical investors looking for an entry into a stable neighbourhood without overpaying for square footage. It’s for the buyer who prioritizes a move-in-ready basement, a newer build date within its context, and a property that holds its value well locally over having a large interior.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 924 sqft, the living area is below average for the street, neighbourhood, and city. This indicates a compact home, best suited for individuals, couples, or small families who prioritize efficient living and lower utility costs over spacious rooms.
2. How does the lot size compare?
The land area of 4,997 sqft is smaller than most on Russenholt Street, but it is near the citywide average. This means you get a standard urban yard, but it may feel more private or constrained than others on the same block.
3. What does the "newer" build year really mean?
Built in 1973, it is the newest home on its street, which can be an advantage regarding the potential age of major components like wiring or plumbing compared to immediate neighbours. However, it is still a 50-year-old home, so a thorough inspection remains essential.
4. Why is the assessed value relatively high for the area?
The home ranks in the top 25% on its street and top 20% in Buchanan for assessed value. This often reflects desirable attributes not fully captured in basic metrics—like the renovated basement, overall condition, or the property’s specific location within the area.
5. What can the last sale price tell us?
It last sold for $310,000 in August 2017. This historical price provides a benchmark, but current value will be driven by today’s market conditions, any updates made since then, and the home’s strong comparative assessment within its immediate locale.