Property Overview: 508 La Verendrye Street, Winnipeg
Key Characteristics & Appeal
This home at 508 La Verendrye Street in North St. Boniface presents a specific value proposition defined by its contrasts. Built in 1982, it is a notably newer construction compared to most homes on its street and in the wider area, which typically date to the 1940s and 50s. This suggests potentially lower maintenance concerns related to age, such as outdated plumbing or electrical systems.
The appeal lies in its entry-level positioning. With a 720 sqft living area and a 3,054 sqft lot, both metrics are significantly below local and city averages, resulting in a correspondingly lower assessed value of $262k. This creates an accessible price point in a established neighbourhood. The property isn't for those seeking spacious interiors or large yards; instead, it suits practical, first-time buyers, downsizers, or investors looking for a manageable, newer-built asset without the premium of a larger home. Its recent sale history indicates steady value retention.
A less obvious perspective is its efficiency: the smaller footprint can mean significantly lower utility costs and less upkeep. For the right buyer, it represents a chance to gain a foothold in a community without paying for square footage they may not need.
Frequently Asked Questions
1. Is the lower assessed value a red flag?
Not necessarily. It directly reflects the home's smaller size relative to its neighbours. It indicates a market-appropriate valuation for a compact, newer home on a smaller lot, not an underlying property issue.
2. What are the implications of having a much newer home on an older street?
This can be an advantage. You benefit from modern construction standards (like 1980s wiring and insulation) while being in a mature neighbourhood with established trees and amenities. However, the architectural style might differ from surrounding heritage-style homes.
3. How meaningful are the lot size comparisons?
While the lot is smaller than average, it is still a standard city lot. The "below average" ranking is because many area properties have particularly deep or wide lots. For basic outdoor space, it is likely sufficient, but there is limited potential for expansions or additions compared to larger neighbouring parcels.
4. The sold price history shows ranges. Can I get exact figures?
Yes. The site provides sold price ranges publicly. To receive the exact historical sale prices, you must request them via email from the service, as they manually verify data not sourced from the MLS.
5. Who would this property not suit?
It would likely not suit buyers needing multiple bedrooms, dedicated home office space, or who envision extensive gardening or outdoor entertaining, given the compact living area and smaller lot size. It is a home for streamlined living.