Property Overview: 247 Wexford Street, Varsity View, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-maintained, single-storey home built in 1973, situated on a generous 5,108 sqft lot in the established Varsity View neighbourhood. Its key features include 1,184 sqft of living space, a finished basement, and a detached garage. The home presents a practical, grounded opportunity.
Its primary appeal lies in its balance of space, location, and value. The large lot is a significant asset in a mature community, offering room for gardening, play, or future expansion. While the home itself is older, its rankings show it is competitively sized for the area and sits on a property larger than most in its immediate vicinity. The finished basement adds functional living space, a valuable perk.
This property would suit first-time buyers or downsizers seeking a single-level layout in a quiet, central neighbourhood. It’s also a sensible choice for a value-oriented buyer who prioritizes land size over a modern build and sees potential in a home that has been cared for but may benefit from personalized updates over time. A less obvious perspective is its appeal to those who appreciate statistical stability: its assessments and rankings suggest it is a firmly middle-of-the-road property in the broader Winnipeg market, which can mean less volatility and a straightforward entry point into a desirable area near the university.
Section 2: Frequently Asked Questions
1. What is the true condition of the home given its age?
While the listing confirms it is maintained, a 1973 build will likely have original or older components (like windows, roof, or mechanical systems). A thorough inspection is essential to understand the condition and timeline for any necessary updates.
2. How does the finished basement add value?
It provides additional flexible space for a family room, home office, or guest area without increasing the property's footprint. This effectively increases the usable square footage beyond the main floor living area.
3. What are the implications of the property rankings?
The rankings show this home is larger and on a bigger lot than many neighbours, but the building itself is older than most on the street. This suggests the land is a key asset. Its overall city-wide rankings near the median indicate it is a typical, competitively priced Winnipeg property.
4. Who is the typical buyer in Varsity View?
The neighbourhood, being near the University of Manitoba, attracts a mix of academics, students (often seeking rentals), and long-term residents who value the quiet, tree-lined streets and central location. It’s a community with both stability and turnover.
5. What are the next steps if interested?
Review the full assessment details for tax implications, investigate any recent permits for the finished basement, and most importantly, arrange a viewing to personally assess the layout, natural light, and flow, which are not captured in the statistics.