Property Overview
This 1986-built, one-storey home in Varsity View stands out for its generous proportions and established setting. Its primary appeal lies in the combination of a very large, approximately 12,600 sqft lot and an above-average living space of over 2,100 sqft, all within a highly regarded, central neighbourhood. The home features a finished basement and an attached garage. Market data indicates it ranks highly against comparable properties, placing in the top 10-15% of its community for both lot size and living area, and in the top 10% city-wide for overall assessed value. This suggests a property that is both substantial and competitive within its market segment.
It would be an excellent fit for buyers seeking a spacious, single-level layout on a private, sizable lot—ideal for families, those who enjoy gardening or outdoor space, or anyone looking for room to potentially expand. Its strong rankings also make it a compelling option for value-conscious buyers who prioritize assets that consistently perform well against neighbourhood and city benchmarks.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, broader Varsity View community, and all of Winnipeg. For example, being in the "top 7%" for living area in the community means 93% of area homes are smaller. This data helps gauge the property's relative size, value, and modernity.
2. Is the age of the home (40 years) a concern?
While the home is not new, its age is typical for the area and it ranks as newer than 70% of homes city-wide. The key considerations would be the condition and age of major systems (roof, HVAC, windows) and any updates made over time, which should be verified during an inspection.
3. What are the advantages of such a large lot?
Beyond privacy and space for recreation, a lot of this size (nearly a third of an acre) in a central neighbourhood is a rare and appreciating asset. It offers potential for future additions like a deck, shed, or garden, and typically contributes significantly to the property's overall value and appeal.
4. Who might this property not suit?
It may not be ideal for those seeking a brand-new, low-maintenance home, as some updates may be desired. The single-storey layout, while accessible, means the footprint is large; buyers preferring a more compact, multi-level design might look elsewhere.
5. How should I interpret the assessed value?
The municipal assessment of $589,000 is for tax purposes and is a lagging indicator based on historical market data. It confirms the home is in a high-value bracket for the city, but the final market price will be determined by current conditions, demand, and the property's specific features and presentation.