Property Overview & Key Characteristics
This 1978-built, single-storey home in Varsity View offers a practical and low-maintenance living option on a generous 5,378 sqft lot. Its key appeal lies in its balance of established neighborhood character and functional space. The 1,062 sqft home features a finished basement, adding valuable living area. While it lacks a garage, the large lot presents clear potential for future additions like a garage, workshop, or expanded outdoor living space.
Its value is grounded in its location and lot size, rather than high-end finishes. The home ranks notably well for its lot size within the immediate area, suggesting a premium parcel of land. It would suit a first-time buyer looking for an entry point into a desirable neighborhood, a downsizer seeking single-level living without a condo fee, or a practical investor. A thoughtful perspective is recognizing the home as a "blank canvas" property—its value is substantially in the land and the solid foundation, ideal for someone planning gradual renovations or a future rebuild.
Frequently Asked Questions
1. What is the significance of the lot size rankings?
The property's lot size ranks in the top tier for both its street and neighborhood, meaning it is larger than over 90% of comparable lots nearby. This is a key asset, offering more privacy and space than typical for the area.
2. The home was built in 1978. What should I be aware of?
While the major systems may have been updated over the years, a buyer should budget for potential age-related maintenance. A thorough inspection is recommended to assess the condition of the roof, windows, plumbing, and electrical systems.
3. There's no garage. Can one be built?
The large lot size certainly allows for the potential addition of a garage or carport. Any buyer interested in this should verify setback requirements and other zoning bylaws with the city before proceeding.
4. How does the finished basement affect living space and value?
The finished basement effectively doubles the usable living area, providing crucial space for a family room, home office, or additional bedrooms. It adds significant functional value to the home's modest main-floor square footage.
5. The overall assessment value seems moderate for the area. Is this a concern?
Not necessarily. The assessment is for the total property (land + building). The rankings show it is priced above many homes in Winnipeg overall. The moderate assessment may reflect the home's older build year and simpler finishes, but it is balanced by the high-value, large lot it sits on.