Property Overview: 417 Southall Drive, Margaret Park, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling balance of space and value. Its key strength is a generous, above-average lot size of nearly 7,000 sq ft, offering more outdoor space than most homes on its street and in the wider city. Built in 1966, the house itself is typical for its era and neighbourhood, with a living area of 1,120 sq ft that aligns with local averages. The assessed value of $360k positions it as a premium property within Margaret Park, suggesting desirable features or updates not detailed in the metrics.
The appeal lies in this combination: a larger-than-standard yard in a well-established neighbourhood, coupled with a home that is financially positioned in the upper tier of its immediate area. It would suit buyers looking for a solid footprint in a mature community, where the land itself represents significant value. It’s particularly suited for those who prioritize outdoor space for gardening, play, or future expansion over a brand-new build. The 2019 sale price range indicates steady value retention, appealing to pragmatic buyers seeking a stable investment in a neighbourhood context.
Section 2: Frequently Asked Questions
1. What does the "above average" assessed value really indicate?
While the living area is average, the assessment is in the top 12% for Margaret Park. This often reflects factors like quality of renovations, premium lot features, or the home's specific condition and finishings compared to neighbours.
2. How does the lot size compare practically?
At 6,992 sq ft, the lot is over 1,800 sq ft larger than the area average for Margaret Park. This translates to a noticeably more substantial backyard, providing greater privacy and potential for additions like a shed, deck, or garden.
3. Is the 1966 build date a concern?
The year is typical for the area. The ranking shows it's neither among the oldest nor newest homes on the street. A key consideration will be the age and condition of major systems (roof, windows, plumbing, electrical), which may have been updated over time.
4. What can the 2019 sale price range tell me?
The prior sale in the $300k-$350k range, against the current $360k assessment, suggests market appreciation. To understand true market value, this should be compared with recent sales of similar homes, as assessments can lag behind current market dynamics.
5. Who are the most logical neighbours to compare it to?
The most direct comparisons are the homes immediately adjacent on Southall Drive. The provided data shows how this property ranks specifically within that small group, offering a clearer picture of its standing on its own block versus the broader neighbourhood or city.