Property Overview
This well-established bungalow on a large, quiet lot in Southboine offers a practical and spacious family home. Its key appeal lies in its generous 6,887 sqft lot—a significant size that ranks in the top 18% of all Winnipeg properties—providing ample room for gardening, play, or future expansion. The 1,498 sqft living space is above average for the city and includes a finished basement, offering flexible room for a growing household or hobbies. Built in 1977, the home is newer than most in its immediate area, and its current assessed value places it comfortably within the top tier of Winnipeg properties overall. The attached garage and single-storey layout add to its everyday convenience.
This property would suit buyers looking for a solid, move-in-ready home with established neighborhood character and a premium lot size, without the premium price of a brand-new build. It's ideal for families seeking space, or for those who value a large outdoor area with room to personalize. The strong city-wide rankings for lot size and value suggest a property with enduring, tangible assets.
Frequently Asked Questions
1. How does the age of the home (built 1977) affect its condition and potential costs?
While the home is newer than many on its street, being nearly 50 years old means key systems like the roof, windows, furnace, and plumbing may be at or beyond their typical lifespan. A thorough inspection is essential to budget for any necessary updates or maintenance.
2. The lot is large, but what is the neighborhood and street like?
The home ranks in the top tier for lot size city-wide, indicating a desirable, spacious setting. However, its rankings within the immediate community for size and value are more moderate, suggesting it's on a street of varied properties. Prospective buyers should visit at different times to assess traffic, noise, and neighbor proximity.
3. The assessed value is $502,000, but it sold for $450,000 in 2019. What does this indicate?
The increase in assessed value reflects market appreciation and municipal assessment. The 2019 sale price provides a historical benchmark, but the current market value will be determined by recent comparable sales, condition, and buyer demand. The assessment suggests strong upward momentum.
4. Is the finished basement included in the 1,498 sqft living area?
Typically, municipal living area (sqft) refers to above-grade space. The finished basement is an additional asset, providing extra usable space that is not reflected in that primary square footage figure, adding significant functional room to the property.
5. What are the advantages of a one-storey (bungalow) layout?
The single-level living offers excellent accessibility and ease of movement, which is appealing for young families, aging in place, or anyone preferring to avoid stairs. It often allows for a more open floor plan and can simplify renovations or extensions.