Property Overview: 123 Balaban Place, Winnipeg
Key Characteristics & Appeal
This 998 sqft bungalow, built in 1978, sits on a 5,405 sqft lot in the Mission Gardens neighbourhood. Its key appeal lies in its strong relative value and established setting. With an assessed value of $360,000, it ranks well above average for its own street (Top 16%), indicating it is perceived as a higher-quality home within this immediate area. Interestingly, it is the newest home on Balaban Place (Top 2%), which may suggest updates or a later construction phase that others on the block lack.
The home’s living space is modest compared to the Winnipeg average but is typical for Mission Gardens. This creates a specific dynamic: you’re acquiring a well-regarded property on its street, within a neighbourhood of similarly sized homes, but with less square footage than the broader city norm. This profile suits practical, value-conscious buyers—perhaps first-time homeowners or downsizers—who prioritize a solid investment in a stable neighbourhood over maximum interior space. The lot size is very standard for the area, offering typical outdoor space without being a standout feature.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While the assessed value is for municipal tax purposes, this home’s ranking (Top 16% on its street) suggests it has features or condition that place it above its immediate peers. It’s a useful data point, but market conditions and specific home features will ultimately determine the sale price.
2. How does the home’s size compare practically?
At 998 sqft, it’s comfortably sized for Mission Gardens but below the city-wide average. This typically means efficient, well-utilized spaces rather than expansive rooms. It’s ideal for smaller households or those seeking easier maintenance.
3. What does it mean that this is the newest home on the street?
Being built in 1978 and ranking as the newest among 64 homes on Balaban Place suggests the street consists of very established properties. For this home, it could imply potentially newer major systems (like plumbing or electrical) compared to neighbours, but a professional inspection is still essential.
4. What can the past sale price (2017, $250k-$300k) tell me?
It shows historical value growth. The exact sale price is available upon request to the listing service. This history, combined with the current assessment, helps illustrate the property’s appreciation trend over an 8+ year period.
5. How does the lot size impact potential?
At just over 5,400 sqft, the lot is very typical for the area. It provides standard backyard space for gardening or recreation but is not unusually large for future expansions, which would be subject to zoning bylaws.