Property Overview: 244 Wexford Street, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a classic, well-situated 1950s bungalow on an exceptionally large, mature lot exceeding 10,000 sqft—a rarity in the sought-after Varsity View neighborhood. The home itself offers 980 sqft of living space with a finished basement and a detached garage. Its primary appeal lies in the combination of location and land. The property ranks in the top 6% of all Winnipeg homes for lot size, offering immense potential for gardening, expansion, or future redevelopment. While the house is of a vintage that may require updates, its value is strongly anchored in the land and its position in a prime, central community close to the University of Manitoba, major routes, and amenities.
This property would suit a specific type of buyer: those who value land over a turnkey modern home. It’s an ideal candidate for a long-term holder who appreciates the stability of a large lot in a mature neighborhood, a handy person looking for a project with a solid foundation, or an investor who recognizes the underlying value of the lot itself. It’s less suited for someone seeking immediate, modern finishes without any renovation work.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
Ranking in the top 6% in Winnipeg for lot size means this property’s 10,094 sqft parcel is significantly larger than the vast majority of residential lots in the city. In Varsity View, it surpasses 84% of other homes for land area, highlighting its standout feature.
2. The house was built in 1950. What should I expect?
As a 76-year-old home, buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, and anticipate a layout and style reflective of its era. A thorough pre-purchase inspection is essential to understand the condition.
3. How does the finished basement affect the living space?
The finished basement adds usable space to the 980 sqft main floor footprint, but it’s important to clarify the quality, ceiling height, and legality of the finish. It may provide valuable extra rooms or recreational space.
4. The assessment value is $342,000. Is that the sale price?
No. The municipal assessment is used for calculating property taxes and may not reflect current market value. The sale price will be determined by market conditions, buyer demand for the unique lot, and the home’s condition.
5. What are the less obvious advantages of this property?
Beyond the obvious large lot, its rankings suggest a strong “land value” proposition that may hold steady even if the housing market fluctuates. The mature neighborhood also typically means established trees, settled infrastructure, and a stable community character. The one-storey (bungalow) style could also appeal to those thinking about long-term accessibility.