Property Overview
2 Leicester Square is a one-and-a-half storey home in Winnipeg's Jameswood neighbourhood, built in 1957. It features a renovated basement and a detached garage on a 4,997 sqft lot. With 937 sqft of living space, it is a compact home that stands out for its above-average assessed value within its immediate area.
Key Characteristics & Appeal
This home’s primary appeal lies in its strong financial positioning within its local context. Despite having a smaller-than-average living area and lot size for both Leicester Square and Jameswood, its assessed value ranks in the top 21% on the street and top 16% in the neighbourhood. This suggests the property is perceived as well-maintained, desirable, or offering good value for the area. The renovated basement adds modern livable space, a key update for a home of this era. Its vintage 1957 build date is actually among the oldest on the street, which may charm buyers interested in classic neighbourhood character.
It would best suit a first-time homebuyer, downsizer, or pragmatic investor looking for an efficient footprint in a stable neighbourhood. The smaller scale means lower utility costs and less maintenance, while the high relative assessment indicates a solid investment for the locale. It’s a practical choice for someone prioritizing financial prudence and a manageable property over sheer size.
Frequently Asked Questions
1. Is the smaller living area a concern?
While below the average for comparable homes nearby, the 937 sqft layout is efficient. The renovated basement effectively expands the usable living space, making it feel larger than the official square footage suggests.
2. Why is the assessed value high relative to the home's size?
A higher assessment compared to area averages often reflects recent improvements (like the basement renovation), desirable location on the street, or overall property condition. It indicates the municipality views it as a premium property within its peer group.
3. What does the lot size mean for me?
At just under 5,000 sqft, the lot is smaller than many in Jameswood. This translates to less yard maintenance, which can be a benefit, but may limit expansion possibilities or spacious outdoor living setups.
4. How does the age of the home affect things?
Built in 1957, the home’s systems (roof, plumbing, electrical) may need attention or updating unless already addressed. However, its status as one of the original homes on the street adds established neighbourhood character.
5. Who are the typical neighbours?
The nearby sold listings and similar-value properties suggest a mix of long-time residents in original homes and newer owners who have invested in updates. The consistent assessed values on the street point to a stable, mature community.