Property Overview: 501 Penninghame Street, Winnipeg
Key Characteristics & Appeal
This 735 sqft bungalow, built in 1950, presents a practical and value-conscious opportunity in the Robertson neighbourhood. Its primary appeal lies in its strong positioning within its immediate context. While the living space is modest compared to broader city averages, the property excels on its own street: it sits on an above-average lot size (4,110 sqft), is newer than most neighbouring homes, and carries an assessed value ($246k) that ranks in the top third for Penninghame Street. This suggests a well-maintained home that stands out in its micro-location.
The appeal is grounded in affordability and potential. It suits first-time buyers seeking an entry point into the market, or investors looking for a manageable rental property. The generous lot for the area offers valuable outdoor space and future potential not always available at this price point. It’s a home for those who prioritize a solid foundation and location-specific value over sheer square footage, understanding that city-wide averages include much larger, newer properties in different areas.
Frequently Asked Questions
1. Is the house smaller than average?
Yes, at 735 sqft, the living area is below the neighbourhood and city averages. However, it is closer to the average for its specific street, indicating the home’s size is typical for this particular block.
2. Why is the assessed value higher than the street average?
The assessed value of $246k is above the street average of ~$217k. This is likely due to a combination of the home’s relatively newer build year (1950) and its larger-than-average lot size for the street, which are positive factors in its valuation.
3. What does the sold price history indicate?
Records show it last sold between $200k-$250k in late 2022. This range aligns closely with its current assessed value and sits in the top half of sold prices for both the neighbourhood and city, suggesting stable market value.
4. How does the lot size compare?
The 4,110 sqft lot is a key feature, ranking 4th largest out of 37 on Penninghame Street. This is a significant advantage, offering more private outdoor space than most direct neighbours.
5. Where can I get exact historical sale prices?
The provided data shows estimated ranges. For fully verified and exact sale figures, you must request a manual lookup from the site via email, as they do not display MLS records directly.