Property Overview: 381 Lynbrook Drive
This well-established Varsity View bungalow presents a classic and practical home on a large, mature lot. Built in 1979, its appeal lies in its solid foundation within a sought-after neighbourhood, offering space and potential. The home features 1,188 sqft of living space, a fully finished basement, and a detached garage. Its standout characteristic is the generous 7,320 sqft lot, which provides ample outdoor space—a relative rarity in the area. With an assessed value of $431,000, it positions itself as a competitively priced entry into a prime location near the University of Manitoba.
Key Characteristics & Ideal Buyer
The property’s core strength is its location and land. Situated in Varsity View, it offers proximity to the university, major routes, and amenities. The home itself is a functional, one-storey layout with a finished basement, catering to those seeking single-level living or easy expansion possibilities. Its rankings indicate it outperforms most Winnipeg homes in lot size and assessed value, suggesting a strong underlying property value relative to the market.
This home would best suit a practical buyer who values location and land over a turnkey modern interior. It’s an ideal candidate for a first-time homeowner willing to update the home over time, or an investor looking for a solid rental property in a high-demand student and academic area. The large lot also holds quiet appeal for gardeners, families wanting play space, or those considering future additions, offering a canvas that newer subdivisions often cannot match.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a mature, quiet neighbourhood known for its convenience to the University of Manitoba, research parks, and shopping at University Crescent. It typically attracts a mix of academics, students, and long-term residents.
2. What is the condition of the home?
As a 47-year-old property, buyers should anticipate maintenance consistent with its age. A thorough home inspection is recommended to assess the roof, windows, mechanical systems, and the condition of the finished basement.
3. What are the property taxes?
While not listed here, property taxes can be estimated using the City of Winnipeg’s calculator and the provided assessed value of $431,000. Taxes in this area are typical for a home of this value in Winnipeg.
4. Is there potential for expansion or renovation?
The large lot size is a significant asset for potential expansion, such as an addition or a new garage, subject to city zoning bylaws. The bungalow style and finished basement also offer flexible layout options.
5. How does the detached garage impact winter use?
A detached garage means exiting your vehicle in the elements during Winnipeg winters. For some, this is a minor trade-off for the lot layout and storage space; for others, it’s a consideration for daily convenience.