Property Overview & Key Characteristics
This 1978 bi-level home at 400 Mandalay Drive in Winnipeg's Mandalay West neighbourhood offers a practical, value-oriented opportunity. Its key appeal lies in a combination of a renovated basement, a well-sized lot, and a location that ranks highly within its immediate area. With a living area of 947 sqft, the home itself is modest, but the 3,100 sqft land parcel is notably larger than many in the city, placing it in the top 14% for lot size in Winnipeg. The property’s assessed value is positioned in the top third city-wide, suggesting stable fundamentals.
The home would suit first-time buyers seeking an entry point into a established neighbourhood with room to grow, or value-focused investors looking for a property with a strong land-to-building ratio. Its above-average rankings for lot size, year built, and value within Mandalay West itself indicate it is a comparatively solid offering in its specific micro-market, rather than just the broader city. The renovated basement adds immediate functional living space without the need for initial work.
Frequently Asked Questions
1. How does the lot size compare to nearby homes?
At 3,100 sqft, the lot is larger than approximately 86% of residential properties in Winnipeg, offering more outdoor space than is typical for the city.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point for a viewing or to discuss with the seller's agent to understand the quality and scope of the work.
3. Is there potential for future expansion or redevelopment?
The generous lot size relative to the home's footprint could provide options for additions, a garage, or landscaping projects, subject to local zoning bylaws and permits.
4. How does the assessed value relate to the likely asking price?
The assessed value is a municipal valuation for tax purposes and is typically lower than market value. Comparing it to recent sale prices of similar homes in Mandalay West (like the nearby reference properties provided) will give a clearer picture of market value.
5. The home has no garage. Is street parking readily available?
With no garage, parking will rely on the driveway or street. Observing parking availability during different times of day would be advisable, and checking with the city about any permit requirements for on-street parking is recommended.