Property Overview: 518 Besant Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 518 Besant Street is a classic 1959 bungalow in Munroe East, presenting a practical and grounded opportunity. Its key appeal lies in a balanced profile with one standout feature: a generous 6,047 sqft lot that ranks within the top 8% of the neighbourhood for size. This offers significant outdoor space and potential not found in many newer developments.
The 960 sqft living area is modest and slightly below the city average, suggesting a cozy, manageable footprint ideal for downsizers, first-time buyers, or those seeking a lower-maintenance interior. The assessed value is consistent with area norms, indicating a fairly priced entry point into the market.
This property suits buyers who prioritize land size over square footage. It’s an excellent fit for someone with gardening ambitions, who values private outdoor space, or who sees long-term potential in the lot itself. The home’s age means renovations may be part of the journey, appealing to those comfortable with gradual updates. It represents a pragmatic choice for securing a larger piece of land in a mature neighbourhood without a premium price tag.
Section 2: Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is a defining feature. At over 6,000 sqft, it is substantially larger than the Munroe East area average (~4,958 sqft), placing it in the top 8% of the neighbourhood.
2. What should I consider about the home’s age?
Built in 1959, the home is of a typical vintage for the area. Buyers should budget for potential updates to major aging components like the roof, windows, or mechanical systems, which is common for homes of this era.
3. How does the sold price history inform the current value?
The home sold in 2024 for an estimated $300k-$350k. This recent sale provides a concrete market benchmark, showing its value is aligned with the area’s activity and can be used as a key reference point.
4. Is the living space suitable for a growing family?
At 960 sqft, the living area is cozy. It may be suitable for a small family or those comfortable with efficient use of space. The large lot, however, offers valuable room for children to play or for future expansion, subject to local zoning.
5. How does the assessed value relate to the likely selling price?
The assessed value ($31,200) is for municipal tax purposes and is typically much lower than market value. The recent sale price range is the relevant figure for understanding the home’s market worth.