Property Overview
This one-storey home in Niakwa Park, built in 1955, sits on a large, nearly 6,000 sqft lot. Its key appeal lies in a desirable combination of space, location, and recent investment. The living area is a comfortable 1,231 sqft, and the home features a renovated basement, adding valuable finished space. While it doesn't have a garage or pool, the property ranks highly for its lot size within the street and neighbourhood.
Its appeal is grounded in practicality and potential. The generous lot offers room for gardening, play, or future expansion, a rarity in many mature areas. The renovated basement immediately adds functional living space without the need for initial projects. The sale history shows a significant increase in value between 2018 and 2022, suggesting the area is well-regarded.
This home would suit a first-time buyer or downsizer looking for a manageable single-level layout in an established neighbourhood, where the major work of a basement renovation is already complete. It’s also a sensible choice for a value-conscious buyer who prioritizes land size over a premium, turn-key interior, seeing the solid foundation and lot as the primary assets.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified with the listing agent, a renovated basement in a home of this era often means it has been finished into a livable space, potentially including a rec room, additional bedroom, or office, with proper flooring, walls, and ceilings.
2. The assessed value seems low compared to past sale prices. Why is that?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The sold price of $350k in 2022 is a much stronger indicator of its current market worth.
3. What are the implications of not having a garage?
This means parking will be limited to driveway and street. Buyers should consider Winnipeg winters for vehicle clearing and assess on-street parking availability. The large lot, however, could potentially accommodate a future garage build, subject to local bylaws.
4. How does the age of the home (1955) affect things?
While the basement has been renovated, core systems like plumbing, electrical, and the roof should be carefully inspected. Homes of this age can be solidly built but may require updates or maintenance over time.
5. The lot is large, but how is the property ranked?
The rankings compare this property to others on the same street, in the neighbourhood, and across Winnipeg. It ranks in the top 35% for lot size in Niakwa Park, which is a significant advantage, meaning you're getting more land than most properties in the area.