Property Overview: 797 Setter Street, Heritage Park, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home at 797 Setter Street is a practical property that stands out for its balance of space, value, and location-specific advantages. Built in 1985, it is a newer construction compared to many Winnipeg homes, potentially meaning fewer major age-related concerns. The 1,040 sqft living area is modest, especially for the immediate street, but the renovated basement adds functional space. A significant asset is the large 6,885 sqft lot, which is well above average for both the Heritage Park neighbourhood and the city, offering ample outdoor space.
The appeal here is grounded in value and potential. The home’s assessed value ranks notably high within Heritage Park, suggesting it is viewed favorably relative to its neighbours. It suits first-time buyers or downsizers looking for a manageable single-level layout with a low-maintenance yard, or an investor seeking a property with a strong value proposition in a stable neighbourhood. A thoughtful perspective is that while the home’s size is below average on its street, this can represent an entry point into a desirable area, with the generous lot size providing future flexibility for expansion or outdoor living that is harder to find in newer subdivisions.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to the area?
At 1,040 sqft, the living area is smaller than most homes on Setter Street and in the Heritage Park area. However, it is close to the Winnipeg citywide average, and the renovated basement provides additional usable space.
2. What does the assessed value ranking indicate?
The assessed value of $40,900 is above average for the Heritage Park neighbourhood (ranking in the top 22%). This suggests the property holds good value relative to nearby homes, though it is around average when compared to the immediate street or the entire city.
3. Is the lot size a significant feature?
Yes. The 6,885 sqft lot is a key asset, ranking above average for both the neighbourhood and Winnipeg. This offers more private outdoor space than is typical, which is a valuable and less replaceable feature than interior square footage.
4. What can recent sale prices tell us?
The home sold in late 2024 for an estimated range of $46.5k to $49.5k. This sale price ranked highly compared to area averages, indicating strong market interest. A previous sale in 2017 was at a significantly lower price, showing appreciable growth over that period.
5. Who might this property not suit?
Buyers seeking a large, move-in-ready interior without future projects may find the living space compact. It may also not suit those prioritizing a brand-new home or a neighbourhood with very recent construction, as Heritage Park features many homes built in the 1970s and earlier.