Property Summary: 214 Lynbrook Drive
Key Characteristics & Appeal
This is a classic, one-storey home in the established Varsity View neighborhood, built in 1915. Its primary appeal lies in its substantial, nearly 9,000 sqft lot, which is significantly larger than most in Winnipeg, placing it in the top 9% of the city for land size. The property features an unfinished basement and a detached garage. With 858 sqft of living space, it is a compact home, positioning it as a potential "blank canvas" on a prized piece of land.
The home would best suit a specific type of buyer: those who value land over the current structure. It's ideal for a renovator, builder, or investor who sees the potential in the expansive lot—whether for a major expansion, a complete rebuild, or long-term land value. It also appeals to buyers seeking a lower entry point into a desirable neighborhood, willing to invest sweat equity or capital into modernization. A less obvious perspective is its appeal to someone wanting immense outdoor space for gardens, recreation, or privacy—a rarity in the city—while accepting the character and needs of a century-old home.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, its land size ranks in the top 9% city-wide (highly competitive), while its building age and assessed value rank in the bottom tiers, indicating the home itself is older and valued lower than most.
2. Is the house in livable condition?
The listing notes an unfinished basement and does not mention recent renovations. Given its age (111 years), buyers should budget for and anticipate updates to major systems, insulation, and finishes to meet modern standards.
3. What are the possibilities for the large lot?
The 8,883 sqft lot offers rare potential. Subject to city zoning bylaws, options could include a significant addition, building a new primary residence, or possibly subdividing the lot (which requires specific approvals and is not guaranteed).
4. Why is the assessed value relatively low compared to the price?
The assessed value reflects the city's valuation for tax purposes, which may not fully capture market premiums for lot size, location, or future potential. The sale price is determined by current market demand for these unique factors.
5. What is the character of the Varsity View neighborhood?
Varsity View is a central, mature neighborhood known for its tree-lined streets, proximity to the University of Manitoba, and mix of historic and newer homes. This property's location offers the community's stability and convenience, with the lot size being an uncommon find.