Property Overview & Key Characteristics
This 1969-built, one-storey home in Varsity View sits on a large, 6,457 sqft lot, offering a classic bungalow layout with 1,141 sqft of living space. Its key features include a split garage and an unfinished basement, presenting a blank canvas for future development. The property’s primary appeal lies in its generous lot size—ranking in the top 23% across Winnipeg—which provides exceptional outdoor space and long-term potential in a well-established neighbourhood. Its overall assessed value ranks solidly in the middle of the market.
This home would suit a practical buyer looking for a ground-level living situation, such as a first-time homeowner comfortable with a property that has older mechanicals, or an investor or renovator who sees value in the large lot and the opportunity to finish the basement and modernize the interior over time. It’s a property for those who prioritize space and location over turn-key condition, offering a chance to add value through thoughtful updates.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, its lot size ranks in the top 23% city-wide, which is a significant strength, while its build year is older than most in the immediate area.
2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer’s goals. It requires investment to finish, but it also offers the flexibility to create additional living space, a rental suite, or storage exactly to one’s needs without needing to undo previous work.
3. How should I interpret the "average" rankings for value and living space?
The assessment and living area rankings near the 50th percentile indicate this is a very typical property in terms of size and official value for Winnipeg. The price is likely to reflect standard market conditions rather than being inflated by premium features or discounted for major issues.
4. What are the less obvious considerations with a 1969 bungalow?
While the structure is sound, a buyer should budget for potential updates to original components that are nearing the end of their lifespan, such as roofing, windows, or the heating system. The large lot is a major asset, but also entails more maintenance.
5. Who might this property not suit?
It may not be ideal for someone seeking a modern, low-maintenance home ready for immediate move-in, or for buyers who need fully developed space right away, as finishing the basement would be a necessary project to gain additional rooms.