Property Overview: 226 Wexford Street, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on a large, mature lot in the sought-after Varsity View neighborhood. Its key characteristics include a fully finished basement, a split garage, and a functional 1,040 sqft layout built in 1971. The property’s primary appeal lies in its location and land. The lot size of over 6,800 sqft is a significant asset, offering ample outdoor space and ranking in the top 19% of all Winnipeg properties for size. This presents a rare opportunity in a central area, whether for gardening, play, or future expansion.
The home suits two main types of buyers. First, it’s ideal for a practical buyer seeking a solid entry into a prime neighborhood, willing to update the interior over time while immediately benefiting from the excellent location near the University of Manitoba. Second, it appeals to a value-conscious investor or builder who recognizes the long-term potential of the substantial lot. While the living space is modest and ranks average-to-below average in size comparisons for the area, the overall property value is bolstered by its desirable setting and land equity. It’s a property where the true value is as much in what you have (the land and location) as in the existing structure.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings show the property’s position relative to others. For example, being in the top 19% in Winnipeg for lot size is a major strength. The fact that its living area ranks in the lower 65% locally confirms this is a home valued more for its land and location than for its square footage.
2. Is the finished basement included in the 1,040 sqft living area?
Typically, the listed "居住面积" (Living Area) refers to above-grade, heated space. The fully finished basement is an additional bonus area, adding functional space like a rec room or extra bedrooms not reflected in that main square footage figure.
3. What are the implications of a 55-year-old home?
A 1971 build means major systems (roof, windows, furnace, plumbing) may be at or beyond their typical lifespan. A thorough inspection is crucial. The upside is that homes of this era in this area are often solidly built on strong foundations, with renovation potential.
4. Who is the typical buyer in Varsity View?
The neighborhood, adjacent to the University of Manitoba, attracts a mix of university staff, graduate students, families seeking proximity to good schools, and long-term residents. It’s a stable, academic-tinged community.
5. How should I interpret the assessment value versus the listing price?
The municipal assessment ($386,000) is for tax purposes and is a historical snapshot. The listing price is set by the current market. The assessment being in the top 38% citywide suggests the city sees solid underlying value, but the final sale price will be determined by current demand for homes in this location.