Property Overview
380 Parr Street is a two-storey home in Winnipeg's Inkster-Faraday neighbourhood. Built in 1960, it features 1,782 sqft of living space, a renovated basement, and a detached garage. The property sits on a 2,976 sqft lot.
Key Characteristics & Appeal
The primary appeal of this home lies in its above-average size and significant value within its immediate area. With a living area that ranks in the top 2% for its street and neighbourhood, it offers substantially more interior space than most comparable local homes. Its assessed value of $340k also places it in the elite tier for the area, suggesting a property that stands out in terms of perceived worth or upgrades. However, this is balanced by a smaller-than-average lot size for the city.
This combination makes it particularly suitable for buyers who prioritize spacious interior living over a large yard, and who see value in owning one of the more substantial homes in a neighbourhood. It would appeal to those looking for a home with a renovated basement ready for use, and who may be less concerned with extensive outdoor space. The data suggests it's a larger, more modern home relative to its older, often smaller neighbours, offering a distinct footprint.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value of $340k ranks in the top 1% for the Inkster-Faraday area. This is likely due to the home's larger size (1,782 sqft), its renovated basement, and its more recent 1960 build date compared to many neighbouring homes built in the early 1900s.
2. How does the lot size affect the property?
The land area of 2,976 sqft is below the average for the street, neighbourhood, and city. This means the yard space is more limited, which is a trade-off for the larger interior. It points to a property where the value is concentrated in the home itself.
3. What does the sold price history indicate?
Public records show a sale in June 2016 in the range of $29.5k to $32.5k. The dramatic increase to the current $340k assessment highlights significant changes in market value, property condition, or improvements made over the past decade.
4. Is the living space efficiently configured?
With 1,782 sqft spread over two storeys plus a renovated basement, the home offers flexible space. The two-storey design typically separates sleeping areas from living areas, and the finished basement adds functional square footage for recreation, office, or guest space.
5. How does it compare to the nearby reference properties?
Compared to similar-aged homes on the same street like 429 Parr Street (built 1922, 1,144 sqft), this home is notably larger and newer. This positions it as a more modern and spacious option within the historical context of the neighbourhood.