Property Overview & Key Characteristics
This 1975-built four-level split home in Varsity View offers a practical layout with 1,748 sqft of living space on a generous 5,047 sqft lot. Its key appeal lies in its established neighborhood setting and its relative size, offering more interior space than over 80% of homes in the immediate community. The property includes an unfinished basement and an attached garage.
The home’s competitive rankings are nuanced. While its living area is notably above average for the area, its assessed value sits near the median, suggesting it may be viewed as a sound value proposition for the space offered. It would particularly suit buyers looking for a character home with room to grow or personalize, especially those who value a large lot and are comfortable with a property that has seen modest value appreciation since its last sale in 2016. It's a home for pragmatic buyers who see potential in a solid, well-sized structure in a mature neighborhood, rather than those seeking a turn-key or newly built property.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area. For example, its living area ranks in the top 20% within the Varsity View community, meaning it's larger than 80% of area homes. Conversely, its lot size ranks lower, placing it in the top 94% (or bottom 6%) for the neighborhood.
2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer. It's a drawback for those needing immediate, finished living space. However, it represents a clear opportunity for customization, adding value, and creating additional living or recreational space tailored to a new owner's needs.
3. How should I interpret the price history?
The home was purchased for $320,000 in 2016 and now has a municipal assessment of $395,000. This indicates steady, moderate appreciation over eight years. It’s important to note that the assessed value is for taxation purposes and the final sale price is determined by the market.
4. What are the pros and cons of a four-level split layout?
Pros often include defined separation between living and sleeping areas, potentially offering good privacy. Cons can involve more stairs to navigate daily, which may not suit everyone, and sometimes more compartmentalized room layouts compared to open-concept modern designs.
5. How does this home’s age (built in 1975) factor in?
Its age places it in the top half of homes for "newness" in Winnipeg, but it is older than most in its specific street and community. This typically means well-understood construction methods and mature landscaping, but buyers should budget for updates to aging components like windows, roof, or mechanical systems, and consider an inspection.