Property Overview
This well-established Varsity View home presents a classic two-storey layout on a generous, mature lot. Its key appeal lies in the combination of a prime central location, significant lot size, and a fully finished basement, offering space and potential in a sought-after neighbourhood. The home suits buyers looking for a solid, character property in a central area, who value a large outdoor space and are comfortable with a home of this vintage. It would also appeal to those who see value in a property with strong fundamentals—like its above-average lot and living area rankings within the city—and are prepared to invest in updates over time.
A less obvious perspective is its strong performance in "space" metrics compared to its age. While built in 1964, its living area ranks in the top 19% city-wide, and its lot size is in the top 8%, suggesting it offers more room than many modern homes in Winnipeg. This creates a unique value proposition: the classic neighbourhood feel and lot size of an older home, without the compromise of smaller interior square footage.
Frequently Asked Questions
1. How does the recent sale price compare to the assessment?
The property sold for $400,000 in October 2024, which is very close to its most recent assessed value of $399,000. This alignment suggests a stable and realistic market valuation.
2. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Varsity View, and across all of Winnipeg. For example, its lot size ranks in the top 8% in the city, indicating an exceptionally large property. Its living space also ranks highly (top 19% city-wide), while its age and assessed value rankings are more moderate, which is typical for a central, mature neighbourhood.
3. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers interested in rental income should verify its compliance with local zoning and licensing regulations.
4. What is the typical buyer for this home?
Given its location, lot size, and vintage, it likely attracts a mix of young families drawn to the community and schools, professionals seeking central access to the university and hospitals, and value-oriented buyers who prioritize land size and see the home itself as a solid canvas for personalization.
5. Are there any obvious concerns with a home from 1964?
While the finished basement adds immediate living space, a home of this age will have systems (like plumbing, electrical, and the roof) that are likely original or older. A thorough inspection is essential to understand the condition and plan for potential updates or maintenance.