Property Overview: 229 Varsity View Drive
Key Characteristics & Appeal
This is a well-maintained, single-story home built in 1962, situated on a generous 5,384 sqft lot in the established Varsity View neighbourhood. With 875 sqft of living space and a finished basement, it offers a practical layout for comfortable living. Its recent sale in December 2024 for $322,000, slightly above its $307,000 assessed value, indicates a stable and active market for this property type.
The primary appeal lies in its location and lot size. The home provides a solid entry point into a mature, central Winnipeg community, offering more outdoor space than many newer infill properties. It suits first-time buyers seeking a manageable, ground-level home without the upkeep of a larger property, or investors looking for a reliable rental in a high-demand area near the University of Manitoba. A thoughtful perspective is its "middle-of-the-pack" rankings: while not leading in size or newness within its immediate area, it represents a dependable, average offering that has consistently held and increased its value over the last four years, appealing to those who prioritize stability over standout features.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a long-established, residential community known for its proximity to the University of Manitoba, offering a mix of older character homes and newer infills, with convenient access to academic and recreational amenities.
2. Is the basement a legal suite?
The listing notes a finished basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city if considering rental income.
3. How does the recent sale price compare to the assessment?
The home sold for $322,000 in December 2024, which is approximately 5% above its 2024 assessed value of $307,000. This is a common occurrence in active markets and reflects current buyer demand.
4. What are the property taxes?
Property taxes are not provided in this data. They can be estimated using the City of Winnipeg's tax calculator with the assessed value, or requested directly from the listing agent.
5. The home ranks lower on size within the street. Should I be concerned?
Not necessarily. The ranking shows that most homes on the street are larger, which is typical for older neighbourhoods. This can be an advantage, as it means the subject home may be one of the more affordable and manageable properties on the block, while still benefiting from the same location.