Property Overview
This one-storey home at 697 Lansdowne Avenue is a study in contrasts, offering a practical footprint on a notably generous lot. Its key appeal lies in its above-average, private outdoor space within the Inkster-Faraday neighbourhood, paired with a recently renovated basement that adds functional living area. The house itself, at 938 sqft, is modest and below the city-wide average for living space, suggesting a layout suited for efficiency.
The data reveals a property that stands out locally more for its land than its structure. With a land area ranking in the top 4% of its immediate area, the lot is a significant asset. This is complemented by an assessed value that is above average for the neighbourhood, indicating it is viewed favorably compared to nearby properties. The home would suit first-time buyers, downsizers, or investors looking for a manageable property with clear potential for expansion or gardening, where the value is anchored in the land itself. Its recent sale in 2023 also provides a clear, modern price benchmark for buyers.
Frequently Asked Questions
1. Is the living space too small?
At 938 sqft, the main floor living area is below averages for the city and even its own street. However, the renovated basement adds usable space, making the total functional area more competitive. It's a home that prioritizes lot size over interior square footage.
2. Why is the assessed value so much higher for the neighbourhood than the city?
The assessed value is relative. It ranks highly within Inkster-Faraday because property values in this area are generally lower than the Winnipeg city-wide average. The assessment reflects its standing as a better-than-average property for this specific locale.
3. What can I do with such a large lot?
The 5,920 sqft lot is a standout feature, offering rare space for the area. Beyond gardening, it provides ample room for additions, a large shed or workshop, or simply significant private outdoor living space—an uncommon find in this price segment.
4. The home was built in 1950. What does that mean for maintenance?
While newer than many homes on its street, a 76-year-old house will likely have aging core components like plumbing, electrical, and the roof. The renovated basement is a plus, but a thorough inspection of the original structure and systems is essential.
5. How reliable is the 2023 sold price as a benchmark?
The sold price range from May 2023 is a very relevant and recent data point, making it a strong starting point for understanding current market value. However, market conditions can shift, so it should be considered alongside more recent comparable sales.