Property Overview: 533 Giroux Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1943, situated on a notably generous lot in the Dufresne area. Its primary appeal lies in the combination of a renovated basement and a land size that is well above average for both the immediate street and the neighborhood—over 5,000 square feet. This presents a valuable opportunity for expansion, gardening, or simply enjoying more private outdoor space than is typical for the area.
The living space itself is modest at 648 sq ft, placing it below average in size comparisons. This positions the property as an efficient, manageable home rather than a spacious one. The recently sold price of $310k sits meaningfully above its $260k assessed value, suggesting strong market interest, likely driven by the lot potential and updated basement. It would best suit first-time buyers, downsizers, or investors looking for a lower-maintenance footprint with the flexibility that a large lot provides. It’s a practical choice for those who prioritize land value and renovation potential over immediate square footage.
Frequently Asked Questions
1. Is the house too small?
At 648 sq ft of living area, it is compact. However, the renovated basement adds functional space, and the large lot offers room for a future addition, which is a key value proposition for this property.
2. How does the lot size compare to others?
The lot is a standout feature. It ranks in the top 12% on Giroux Street and the top 10% in the Dufresne area, meaning it is significantly larger than most neighboring properties.
3. Why did it sell for $50,000 above its assessed value?
The sale price reflects current market demand for homes with renovating or expansion potential. The premium likely accounts for the desirable lot size and the value of the basement renovation, which may not be fully captured in the municipal assessment.
4. What does the "below average" city-wide ranking mean?
While the home's size and age are below the Winnipeg average, its assessed value is also proportionally lower. This is characteristic of a modest, older home in a neighborhood setting, not an indicator of quality. The key metrics to watch are its above-average rankings within its own immediate area for land size.
5. Who is this neighborhood best for?
Dufresne offers a established, residential feel. This property, with its large yard, would suit someone seeking a quiet, community-oriented area without the premium price tag of newer subdivisions, and who values the potential of their outdoor space.