Property Overview & Appeal
This is a classic, well-situated single-family home in the established Varsity View neighbourhood. Its primary appeal lies in its exceptionally large, 11,794 sqft lot, which places it in the top 10% of properties within the community for land size. The home itself is a modest 1,058 sqft one-storey bungalow from 1961, featuring a finished basement and an attached garage. While the living space is average for the area, the property's standout characteristic is its immense outdoor potential. It suits buyers looking for a solid home in a prime location with the rare opportunity for expansion, gardening, or outdoor living that a large lot affords. It would particularly appeal to downsizers seeking single-level living with ample private space, or to visionaries who see the long-term value in a property where the land itself is a significant appreciating asset, offering possibilities for future renovation or redevelopment.
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, being in the top 4% city-wide for lot size is a significant advantage, indicating rare outdoor space. Conversely, the home's age and living area are more typical for the area, setting accurate expectations for the dwelling itself.
2. Is the house in need of major updates?
Built in 1961, the home is of an age where core systems (roof, wiring, plumbing) may require inspection or updating. The finished basement is a positive, but the condition and compliance of that renovation should be verified. The value proposition here balances the potential for modernization with the established premium of the location and lot.
3. How does the large lot impact costs and potential?
A lot of this size offers great potential but also entails higher property taxes relative to smaller lots and requires more maintenance. It provides flexibility for additions, a large garden, or recreational space, which is increasingly rare in central neighbourhoods.
4. Who is the typical buyer in Varsity View?
The neighbourhood is popular with university staff, professionals, and families drawn to its central location, mature tree canopy, and proximity to amenities. This property, as a bungalow, may especially attract those seeking accessible, single-level living without sacrificing a prime address.
5. Is the price aligned with the market?
With an assessed value of $394,000, which ranks in the middle ranges for the area, the asking price will reflect the balance between the home's functional living space and the premium for its oversized lot. The final price will be determined by how the market values that unique land potential versus the cost of any desired updates to the house.