Property Overview & Key Characteristics
This single-storey home in Varsity View is defined by its exceptionally large, 27,071 sqft lot, which places it in the top tier of properties in Winnipeg for land size. The appeal lies in the rare opportunity for expansive outdoor living, gardening, or future development within a mature, established neighbourhood. The home itself is a modest 853 sqft bungalow with a finished basement and a detached garage, built in 1951.
It would best suit a buyer who values land potential over a move-in-ready modern home. This could be a long-term investor, a family planning a future custom build, or someone seeking a private, park-like setting close to the university. A less obvious perspective is its appeal to multi-generational families; the vast lot offers ample space for adding a secondary suite or creating distinct outdoor areas for different family members. The rankings indicate the house itself is older and smaller than most, so the value proposition is squarely centered on the land.
Frequently Asked Questions
1. What can be done with such a large lot?
Beyond gardening and recreation, the lot size may allow for significant additions, a garage/workshop, or even subdivision, subject to City of Winnipeg zoning and planning approvals. It represents long-term flexibility.
2. Is the house in good condition given its age?
Built in 1951, a thorough inspection is essential. While it has a finished basement, the rankings show the dwelling is older and smaller than most in the area, so buyers should budget for updates and maintenance consistent with a home of this era.
3. How does the 2019 sale price relate to the current assessment?
The property sold for $280,000 in late 2019. The current assessed value of $346,000 reflects the municipal assessment for taxation, which considers market trends and the unique lot value, but the final sale price is determined by the market.
4. Who is the typical buyer in Varsity View?
The neighbourhood is popular with university staff, students, and families attracted to its central location and mature tree-lined streets. This particular property, however, attracts a more specific buyer focused on land value.
5. Are there any drawbacks to a lot this size?
Potential buyers should consider the ongoing maintenance (lawn care, snow clearing) of a large property and the associated costs. Utility lines and set-back requirements may also influence where any new structures can be placed.