This 1945-built one-and-a-half storey home in Varsity View offers a classic Winnipeg character combined with significant lot value. Its key appeal lies in its generous 8,357 sqft lot, which ranks in the top 10% for size across Winnipeg, providing exceptional outdoor space and future potential in a central, established neighborhood. The house itself, with 1,230 sqft of living space and an unfinished basement, presents a solid foundation. Its recent 2023 sale price suggests it is seen as a property with underlying value, likely for its land and location rather than its current finishes. This home would suit a buyer looking for a character home with room to grow, whether that means gradual renovation, an addition, or simply enjoying one of the larger lots in the area. It’s a practical choice for those who value space and location over modern turn-key condition, appealing to renovators, long-term planners, or investors attentive to lot value in a prime academic community.
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What does the "one-and-a-half storey" design mean for living space?
Typically, this style features main living areas on the ground floor with bedrooms or additional space in a finished upper level that has sloped ceilings due to the roofline. It offers a classic layout that can feel cozy but may have less full-height square footage than a true two-storey.
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The house is older and ranks low for "newness." What should I budget for?
Given its age, proactive inspections are crucial. While systems may have been updated, budgeting for ongoing maintenance, potential knob-and-tube wiring replacement, insulation improvements, or older plumbing is prudent. The unfinished basement is both a blank slate and a likely area for necessary upgrades like moisture control.
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The lot is large, but what can I actually do with it?
Beyond generous gardens and play space, a lot of this size in Varsity View may allow for future additions like a garage, workshop, or sunroom, subject to zoning bylaws. It's a long-term asset that provides flexibility many newer properties don't.
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Why did it sell for significantly more than its assessed value in 2023?
This is common in active markets and for properties where the land value outweighs the building value. The sale price likely reflects the high demand for large lots in central neighborhoods, which isn't fully captured in the municipal assessment formula.
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Is the unfinished basement a drawback or an opportunity?
It depends on your goals. It requires investment to finish but offers no constraints from previous work. You can design it exactly to your needs—a rental suite, family room, or storage—without first undoing someone else's project, and it allows for a thorough inspection of the home's foundation and structure.