Property Overview: 323 Southall Drive, Margaret Park, Winnipeg
Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1966, sits on a notably spacious 6,113 sqft lot in Margaret Park. Its primary appeal lies in its established neighbourhood setting and above-average land size, which offers room for gardening, expansion, or outdoor living relative to many city and local area lots. The home's assessed value ranks highly within its immediate area, suggesting it is viewed as a solid asset in its specific market context. While the living space is modest and typical for its era, the property’s value proposition is anchored in its lot and location rather than its interior square footage.
This home would suit a practical buyer looking for a stable, no-frills property in an established Winnipeg neighbourhood. It’s a candidate for a first-time homeowner comfortable with a home of vintage character, or an investor seeking a property with a good land-to-building ratio. Its appeal is more about long-term fundamentals and space potential than immediate modern luxury.
Frequently Asked Questions
1. How does this home’s value compare to its recent sale price?
The home sold for an estimated $400k-$450k in 2022. Its current assessed value is significantly lower at $35.4k, which is typical in Manitoba where property assessments for tax purposes are not intended to reflect market value. The 2022 sale price is the more relevant indicator of its recent market worth.
2. What does the "above average" assessed value ranking mean?
The home ranks in the top 23% on its street and top 15% in Margaret Park for assessed value. This indicates that, for tax assessment purposes, it is considered a higher-value property within this specific area, which may reflect its larger lot size and stable condition compared to immediate neighbours.
3. Is the lot size a significant feature?
Yes. At over 6,000 sqft, the lot ranks above average for both the wider city and the Margaret Park area. This is a key asset, providing more private outdoor space than many properties and potential for future upgrades like a larger deck, garage, or addition, subject to zoning.
4. What should I know about a home built in 1966?
Buyers should budget for updates common to homes of this age. While systems like roofing, plumbing, and electrical may have been updated, original components are nearing or past their typical lifespan. A thorough inspection is essential to understand the condition of major elements.
5. How can I get the exact historical sale price?
The provider offers a manual service to share the precise sale price from their records. You can submit your email via the "Get exact sold price history" button on the listing page, and they aim to reply with the accurate figure by the end of the same business day.