Property Summary: 218 Laxdal Road, Varsity View, Winnipeg
Section 1: Overview & Appeal
This is a classic two-storey home built in 1978, offering a practical and affordable entry point into the established Varsity View neighbourhood. Its key characteristics include 1,088 sqft of living space, a fully finished basement, and a modestly sized lot just under 3,000 sqft. Notably, there is no garage.
The primary appeal lies in its location within a mature, central community, combined with a price point that is accessible for first-time buyers or investors. The data suggests it is one of the newer and better-maintained homes on its specific street, ranking in the top 10% for age there. However, its overall value is positioned in the more affordable tier for the wider area. This property would suit a pragmatic buyer—perhaps a young professional, a small family, or an investor—who prioritizes location and a functional layout over modern finishes or extensive square footage. It represents an opportunity to secure a home in a desirable neighbourhood where the value is in the land and community, with the understanding that it may require updates or serve as a solid foundation for future equity building.
Section 2: Frequently Asked Questions
1. How does the lack of a garage impact daily life and value?
While a garage is a common convenience, its absence keeps the purchase price and property taxes lower. Buyers should plan for street parking (checking local permit requirements) or consider the cost and feasibility of adding a shed or future parking pad.
2. The home ranks highly for its age on the street. What does this imply?
Ranking in the top 9% on its street for being newer suggests that many neighbouring houses are older, potentially from the 1940s-1960s. This can mean this home may have had fewer major systems replaced over time compared to a full renovation, but it might also have a more modern layout or foundation than some direct neighbours.
3. The assessment is higher than the 2020 sale price. What does this mean for taxes and offer price?
The current assessed value of $285,000 is a municipal estimate for tax purposes. The 2020 sale of $258,000 is a historical market price. Your offer should be based on current market conditions and a professional appraisal, not solely on either figure. Property taxes will be calculated using the assessed value.
4. Is the finished basement included in the listed 1,088 sqft living area?
Typically, the listed "living area" (1,088 sqft) refers to above-grade square footage. The finished basement is an additional bonus space, adding functional room for a family room, office, or extra bedrooms, but it is not counted in the official living area total.
5. The rankings show lower percentages for value metrics. Is this a concern?
The rankings indicate this home is priced in a more affordable range compared to many homes in Varsity View and Winnipeg. This isn't inherently a concern but a clear positioning. It reflects that this is a competitively priced, no-frills home in a sought-after area, which can be an advantage for budget-conscious buyers entering the market.