Property Overview
This 1984-built, one-storey home in Varsity View offers a practical and low-maintenance living option. Its key appeal lies in being a turnkey property with a fully finished basement and an attached garage, sitting on a larger-than-average lot for the area. With 926 sqft of living space, it suits first-time buyers, downsizers, or investors looking for a manageable property in a central, established neighbourhood. Its value is grounded in functionality rather than luxury, providing essential space without the upkeep of a larger home.
A thoughtful perspective is its relative land value. The lot size of 4,522 sqft ranks highly within its immediate area, suggesting future potential may lie more in the land than the current structure. While the home's size and age rank in the middle to lower tiers for the wider city, its location in a desirable, mature neighbourhood like Varsity View provides a stability and convenience that newer suburbs may lack.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a mature, central neighbourhood known for its tree-lined streets and proximity to the University of Manitoba, offering a blend of quiet residential living with easy access to amenities and major routes.
2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. A buyer should verify its compliance with local regulations if considering rental income.
3. How does the 2016 sale price compare to the current assessment?
The home sold for $299,000 in 2016 and is now assessed at $371,000. This reflects market appreciation over eight years, and the assessment provides a baseline, though the final sale price is determined by the current market.
4. What are the main considerations for maintenance?
Built in 1984, major components like the roof, windows, and mechanical systems (furnace, water heater) are likely at or beyond their typical lifespans and should be carefully inspected.
5. Who would this property not suit?
It may not suit buyers seeking a modern, open-concept layout or significant above-ground square footage, as it is a compact, older one-storey design. Those needing multiple large bedrooms or dedicated home office spaces might find it limiting.