Property Overview & Key Characteristics
This 1964 bi-level home in Varsity View offers a compelling blend of space, location, and value. Its primary appeal lies in its exceptionally large, nearly 12,000 sqft lot, which places it in the top 10% of properties within the community for land size. The home itself features 1,080 sqft of living space with a finished basement and a detached garage. While the structure is of its era, its assessed value ranks highly, suggesting solid underlying value for the area.
The property is ideally suited for buyers who prioritize land over a turnkey modern home. It’s a prime candidate for those looking for a long-term family home with ample outdoor space in a central, established neighbourhood, or for an investor or renovator who sees potential in the existing footprint and the rare lot size. Its high rankings for lot and value, contrasted with more modest rankings for the home's age and living area, indicate this is an opportunity rooted in land asset and location rather than immediate move-in luxury.
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%" for lot size city-wide means 96% of Winnipeg properties have a smaller lot, highlighting a key strength.
2. Is a bi-level layout suitable for my needs?
Bi-levels offer good separation of living and sleeping areas, with common spaces typically on one level and bedrooms on another. They are efficient but involve short staircases between main areas. Consider if this flow works for your lifestyle or mobility requirements.
3. The house is from 1964. What should I anticipate?
While the basement is finished, a home of this age will likely have original or older components (like windows, roof, mechanical systems) that may need attention or updating. A thorough inspection is essential to understand the condition and plan for future investments.
4. Why is the lot size such a significant feature?
In a mature, central neighbourhood like Varsity View, large lots are rare. This provides unparalleled space for gardens, play, pets, additions, or future redevelopment potential, which is a major driver of the property's long-term value.
5. How does the assessed value relate to the listing price?
The assessed value of $389,000 is for municipal tax purposes and provides a benchmark of the city's valuation. The listing price is set by the seller and the market; it may be higher, lower, or similar, influenced by recent sales, condition, and current demand.