Property Overview & Key Characteristics
This 1958-built, one-storey home in Varsity View offers a classic bungalow layout with a fully finished basement on a large, 8,357 sqft lot. Its primary appeal lies in the combination of a generous, mature property and a central, established neighbourhood. The home itself, at 999 sqft of living space, is a practical size, but the standout feature is the land itself, which is significantly larger than most in the area, ranking in the top 10% for lot size across Winnipeg. This presents a clear opportunity for gardening, expansion, or simply enjoying ample private outdoor space.
The property would suit a buyer looking for a solid entry point into a desirable neighbourhood, willing to take on a home that may require updates to match its premium lot value. It’s also ideal for those who prioritize land size and location over a newer build or a move-in-ready interior, appealing to long-term planners who see the underlying asset.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
The lot is 8,357 sqft, which places it in the top 10% of all residential properties in Winnipeg for size. In practical terms, this means you're getting a much larger yard than is typical, especially for an inner-city neighbourhood.
2. The house was built in 1958. What should I expect?
As a home from the late 1950s, buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, which may be nearing the end of their service life. The interior layout and finishes will also reflect the era.
3. How does the assessment value relate to the asking price?
The municipal assessment is $317,000, which is used for calculating property taxes. The listing price is set by the seller and is influenced by current market conditions, which often differ from the assessed value, especially for properties with high-value land.
4. Is the finished basement included in the 999 sqft living area?
Typically, municipal living area (sqft) measurements do not include below-grade space. The 999 sqft likely refers to the main floor only, with the finished basement providing additional, separate living space.
5. The rankings show the house is older and smaller than many others. Is that a concern?
This highlights the property’s value proposition. You are purchasing location and land. The rankings confirm the house itself is not the primary draw; the appeal is the potential of the large lot in a prime area, making it a play on the property's future value rather than its current condition.