Property Overview
This 1977-built, one-storey home in Varsity View offers a practical and comfortable living proposition. Its key appeal lies in its combination of a generous, mature lot and a fully finished basement, providing more usable space than the 1,104 sqft main floor suggests. The home ranks highly for its lot size, placing in the top 21% of all Winnipeg properties, which is a significant asset for privacy, gardening, or future expansion. While the interior living area is modest, the finished basement effectively expands the home's functional footprint. It suits first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space, as well as value-oriented buyers who see potential in the solid lot size and the opportunity to update a classic home over time. Its strong city-wide rankings for lot size and assessed value suggest it represents a competitively positioned entry into a well-established neighbourhood.
Frequently Asked Questions
1. How does the finished basement impact the living space?
While the official living area is listed at 1,104 sqft, the fully finished basement adds significant functional space for recreation, home office, or additional bedrooms, making the home feel larger than the main floor square footage indicates.
2. What do the ranking percentages actually mean?
They show how this property compares to others in the immediate area and city. For example, ranking "in the top 21% of Winnipeg" for lot size means 79% of city properties have a smaller lot, highlighting this as a key strength of this home.
3. Is a 49-year-old home a concern?
The rankings provide context: it's newer than 59% of Winnipeg homes, placing it in the middle range for age. This suggests a mix of established neighbourhood character and the need for due diligence on systems like roof, windows, and mechanicals, which may be at or beyond their typical lifespan.
4. Who would this property not be ideal for?
Buyers seeking a modern, open-concept layout or a brand-new, low-maintenance property may find the classic one-storey design and the age of the home less appealing. It's better suited for those comfortable with some updates or a traditional floor plan.
5. How does the assessment value relate to the asking price?
The municipal assessment of $383,000 is a benchmark for property taxes and is typically below market value. It indicates a solid value foundation for the area, but the final sale price will be determined by current market conditions, the home's updated features, and buyer demand.