Property Overview & Key Characteristics
This 1970 bi-level home at 224 Wexford Street sits on a large, 6,814 sqft lot in the established Varsity View neighbourhood. Its key appeal lies in the combination of a generous, mature property with a home that offers functional, updated living space, including a finished basement. The property ranks highly city-wide for its lot size (top 19%) and assessed value (top 37%), suggesting it is seen as a solid asset in a desirable location.
The home would suit first-time buyers or downsizers looking for a manageable footprint with room to grow outdoors, or an investor seeking a property with strong fundamental value in a stable academic community. Its appeal is grounded more in long-term livability and land value than in modern luxury. A thoughtful perspective is that while the interior living area is modest, the expansive lot provides rare potential for gardens, recreation, or future expansion in a central area, offering a balance of urban convenience and suburban space.
Frequently Asked Questions
1. What does the "bi-level" design mean for daily living?
A bi-level typically features a split entry, leading to an upper living level and a lower family/ bedroom level. It offers good separation of living and sleeping areas but involves more stairs than a bungalow.
2. How significant are the property's ranking percentages?
They provide context against local benchmarks. For example, ranking in the top 19% of Winnipeg for lot size is a standout feature, indicating more outdoor space than most city homes. The mixed rankings on age and living area confirm this is a classic, well-situated property rather than a newly built or oversized one.
3. The home was built in 1970. What should I consider?
While systems and structure should be professionally inspected, homes from this era in established neighbourhoods are often solidly built. Key updates (like roof, windows, furnace) and the condition of the finished basement will be important to verify.
4. Who might the "split" or "detached" garage suit?
A detached garage offers flexibility—it could be used as a workshop or studio without disturbing the main house. However, it means going outside to access your vehicle, a consideration for Winnipeg winters.
5. Does the high city-wide ranking for assessed value mean it's a good deal?
It indicates the municipal assessment sees strong underlying value here relative to the entire city, often reflecting the desirable lot and location. The sale price is determined by the market, but this suggests a foundation of stable, long-term value.