Property Overview
This 1986 three-level split home in Varsity View offers a practical layout with a finished basement and a good-sized lot. Its appeal lies in its established neighborhood setting and a value proposition centered on space and land. The home ranks above average for its lot size and assessed value within Winnipeg, suggesting a solid foundation. It would suit first-time buyers looking for a starter home with room to grow, or value-conscious buyers seeking a functional property in a mature area without the premium of a new build. A thoughtful perspective is that while the interior living space is modest, the generous lot presents a clear opportunity for future expansion or outdoor enjoyment, a trade-off that some buyers will find strategic.
Key Details & Considerations
- Layout: 3-level split with a finished basement.
- Size: 1,227 sqft of living space on a 5,383 sqft lot.
- Parking: Attached garage.
- Recent History: Sold in October 2022 for $365,000; current assessed value is $436,000.
Frequently Asked Questions
1. What is the typical buyer for this home?
Given its size and layout, it's most suitable for first-time homebuyers, small families, or investors. Its value is in the land and location more than in high-end finishes.
2. How does the property compare to others in the area?
The data shows a mix: it's on a larger-than-average lot for the street but has an average amount of living space for the broader community. Its assessed value is notably higher than many in Winnipeg, which may reflect its lot size and location.
3. What are the main advantages of this property?
The primary advantages are the substantial lot size, the established neighborhood, and the potential embodied in the finished basement and the property's above-average assessment for the city.
4. What might be some drawbacks or considerations?
The home is 40 years old, so a thorough inspection for aging components (roof, windows, HVAC) is essential. The living space is compact relative to the lot size, so the layout may feel cozy for some.
5. Is the price reasonable based on recent sales?
The current assessed value ($436,000) is significantly higher than the 2022 sale price ($365,000). This gap highlights the importance of understanding current market conditions and the specific reasons for the assessment increase to determine a fair offering price.