Property Summary: 576 Lanark Street, Winnipeg
Key Characteristics & Appeal
This 1,238 sqft one-storey home, built in 1958, sits on a 5,410 sqft lot in the J.B. Mitchell neighbourhood. Its core appeal lies in a combination of above-average investment and a solid, renovated foundation. The renovated basement adds functional living space, while the detached garage offers flexibility. The data reveals a compelling perspective: this property consistently ranks above its peers in terms of assessed value, placing in the top 16% on its street and an elite top 5% within J.B. Mitchell. This suggests it is viewed as a higher-value asset in its immediate area compared to many neighbours. However, its living space is more modest and squarely average for the locale, indicating the value is likely derived from factors like its condition, updates, or lot utility rather than sheer size.
The home would suit practical buyers looking for a move-in-ready property with a strong value proposition for the neighbourhood. It’s ideal for first-time homeowners, small families, or downsizers who prioritize a manageable single-level layout, the added bonus of a finished basement, and the potential for stable or growing equity in a well-established community.
Frequently Asked Questions
1. What does the high assessed value ranking actually mean?
It indicates that the municipal property assessment for this home is notably higher than most comparable homes in its immediate area and neighbourhood. This often reflects recent renovations, desirable lot characteristics, or overall superior condition, which can be a positive signal for market value.
2. Is the living space smaller than average?
At 1,238 sqft, the living area is slightly below the average for similar homes on Lanark Street (~1,277 sqft) but is above the average for the J.B. Mitchell neighbourhood (~1,121 sqft). It offers a comfortable, efficient footprint rather than an expansive one.
3. What is included in the "renovated" basement?
The listing confirms the basement is renovated, but the specific finishes and layout (e.g., number of rooms, ceiling height, plumbing for a bathroom) are not detailed. This would be a key point to clarify with the selling agent.
4. How does the 1958 build year affect the home?
Built in 1958, the home is newer than many in J.B. Mitchell (ranking in the top 4% for year built in the neighbourhood). This can mean updated building materials and potentially fewer concerns associated with very old infrastructure, though systems like plumbing, electrical, and the roof will still be age-dependent.
5. Can I get the exact historical sale price?
Yes, but not directly on the public page. The site provides an estimated sold price range from December 2021 ($42.5k - $45.5k). To obtain the precise sale price from their records, you must request it via email through their provided system.