Property Overview: 702 Lanark Street, Winnipeg
Key Characteristics & Appeal
This well-situated home on Lanark Street in Mathers presents a solid, above-average offering in several key metrics. Built in 1957, the house is notably newer than many on its street, placing it in the top 22% for year built locally. With 1,168 sqft of living space, it sits comfortably around the average for the area, offering practical space without being oversized. The lot size of 6,072 sqft is generous, ranking above the city-wide average.
The primary appeal lies in its strong assessed value of $450,000, which ranks consistently above average against its street, neighbourhood, and city-wide peers. This suggests a property that holds recognized value in the market. Recent sale history indicates active turnover and appreciation, with the last recorded sale in the $450k-$500k range in 2023, following a sale in the $350k-$400k range the year prior.
This property would suit a buyer looking for a established home in a mature neighbourhood, who values a lot with ample outdoor space and a home that compares favorably in terms of valuation and relative modernity within its immediate context. It’s a pragmatic choice for someone who appreciates data-backed value over flashy features.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
At 1,168 sqft, the living area is very close to the average for both the Mathers neighbourhood and the city of Winnipeg as a whole, making it a typically sized home for the area.
2. The assessed value seems high relative to the home’s age and size. Why is that?
The assessed value of $450k ranks in the top 28-30% across all comparison levels. This strong valuation likely reflects a combination of its desirable lot size, its relatively newer construction date for the street, and overall market conditions in the Mathers area.
3. What is the sales history for this property?
Based on public data, the home sold in 2022 for an estimated $350k-$400k and again in 2023 for an estimated $450k-$500k. For exact historical sale prices, you can request the information directly via the listing page.
4. Is the lot size a significant feature?
Yes. While around average for Lanark Street itself, the 6,072 sqft lot ranks above average city-wide (top 29%), offering more outdoor space than many properties across Winnipeg.
5. How can I see how this property compares visually to its neighbours?
You can use the provided “Open neighbourhood map analysis” link to view an interactive map comparing this home to nearby properties on metrics like year built, lot size, and assessed value.