Property Overview
This 1948-built, one-storey home in Varsity View offers a classic, no-frills footprint on a generous 5,382 sqft lot. Its key characteristic is a practical, grounded appeal. With 1,081 sqft of living space, no basement, and a split garage, it presents a straightforward living arrangement. The home’s primary appeal lies in its large, flat lot—a significant canvas for gardening, expansion, or outdoor living in a well-established neighbourhood. It ranks well for lot size within its area, offering more space than many nearby properties.
It would best suit a pragmatic buyer: a first-time homeowner comfortable with a vintage home’s upkeep, a downsizer seeking single-level living without condo fees, or an investor looking for a land-value proposition with existing rental income potential. Its value is functional rather than luxurious, appealing to those who see potential in the land and the solid foundation of a post-war character home.
Frequently Asked Questions
1. What does having "no basement" practically mean for storage and utilities?
Utilities like the furnace and water heater will be on the main floor, consuming some living space. Storage will require creative use of the main floor layout, the garage, or potentially adding a shed to the large lot.
2. The assessed value seems low for the area. Is this a concern?
Municipal assessments are for tax purposes and often lag behind market values. A lower assessment can mean relatively lower property taxes, which is an ongoing financial benefit for the owner.
3. How might the 78-year age of the home affect immediate priorities?
While the structure has proven its durability, a buyer should budget for and prioritize updates to major aging components. The roof, windows, and original plumbing/electrical systems would be key inspection points, as modernizing these adds both comfort and value.
4. The lot is large, but what are the rules for using it?
Any significant changes, like building a large addition, a detached garage, or a secondary suite, would require checking with the City of Winnipeg’s zoning bylaws for permits and allowable uses on the property.
5. The home ranks low for "newness" but high for lot size. What does this signal?
This highlights the property’s core dynamic: you are primarily investing in the land and location. The house itself is a functional asset but may require investment to modernize. The value proposition is the potential of the lot within a mature, central neighbourhood.