Property Overview
This 3-level split home in Varsity View offers a classic, well-established character on a large, private lot. Its key appeal lies in the combination of a generous 9,417 sqft property—which ranks in the top 7% for size across Winnipeg—and a quiet, mature neighbourhood close to the University of Manitoba. The home itself, built in 1949, has 1,200 sqft of living space with a finished basement, presenting a solid foundation. A recent sale in June 2024 at $400,000, notably above its assessed value, suggests strong market interest and potential for value growth.
This property would suit a buyer looking for a long-term family home with ample outdoor space for gardening or play, or an investor/renovator who sees value in the lot size and location. It’s ideal for those who prioritize land over a modern build and are comfortable with a home that has history and may require personalization. The lack of a garage and the home’s age mean it appeals to practical buyers who value potential and location over turn-key perfection.
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 land size is in the top 7% city-wide, meaning the lot is exceptionally large. Conversely, its 1949 build year ranks in the bottom quarter for age, indicating it's an older home in the context of the city.
2. The house recently sold for $400,000, which is above the assessed value. Why is that?
Assessed value is for municipal tax purposes and can lag behind the current market. The sale price reflects what a buyer was recently willing to pay, likely driven by the highly desirable lot size, location in Varsity View, and the competitive market conditions at the time.
3. Is the large lot a good opportunity for expansion or redevelopment?
The nearly 9,500 sqft lot is a significant asset and offers flexibility. While specific zoning bylaws must be checked, a lot of this size in a central neighbourhood provides long-term options, whether for a future addition, a garden suite, or simply enjoying substantial private outdoor space.
4. As a 3-level split, what should I consider about the layout?
Three-level splits often feature short flights of stairs separating living zones, which can create defined, cozy spaces. It’s efficient but means more stairs than a bungalow. Consider if this flowing, multi-level layout suits your lifestyle, especially for young children or mobility concerns.
5. There's no garage. How big of a drawback is this?
For some buyers, it's a major consideration, especially in Winnipeg winters. However, the large lot may allow for the future construction of a garage or shed, subject to permits. The trade-off is gaining more yard space, which may be a worthy compromise for those who value landscaping, recreation, or privacy.