Property Overview: 504 Besant Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 1959-built home in Munroe East presents a distinct value proposition centered on its land. The 900 sqft living area is modest, ranking below average for the street, neighborhood, and city. However, it sits on a substantial 6,048 sqft lot, which is notably larger than most in the immediate area, ranking in the top 8% within Munroe East. The assessed value is relatively low and stable, positioned above average for the neighborhood but around average citywide. A recent sale occurred between 2023 for an estimated $250k-$300k.
The primary appeal lies in the potential of the property rather than its current structure. It suits a specific buyer: someone looking for a footprint in a mature neighborhood with room to grow, whether through expansion, gardening, or future redevelopment. It’s a practical entry point into homeownership for a budget-conscious buyer willing to live with a smaller footprint or an investor recognizing the value of the land. The charm is not in luxury finishes but in opportunity—the chance to add value over time on a generous lot in an established community.
Section 2: Frequently Asked Questions
1. Is the house in need of major updates?
Given its age (built 1959) and below-average living area, buyers should budget for updates. The systems, roof, and windows typical of a home from this era may require attention or modernization.
2. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for tax purposes often lags behind market value and is calculated using different metrics. The 2023 sale price reflects what a buyer was willing to pay in the open market, which can be influenced by factors like lot size, condition, and demand that aren't fully captured in the assessment.
3. What does having a larger lot in this neighborhood mean for me?
It offers more private outdoor space than is typical here and provides flexibility. This could mean room for a larger garage, a sizeable garden, play area, or even future additions, subject to local zoning bylaws.
4. How does the living area compare to nearby homes?
At 900 sqft, the home is smaller than most direct comparisons. On Besant Street, comparable homes average about 1,020 sqft, and the citywide average is 1,342 sqft. This indicates a cozy, efficient layout.
5. Can I find out the exact price it sold for in 2023?
The public data shows a range. The listing service offers to provide the exact sold price via email upon request, as this detailed transaction data is not freely published.