Property Overview & Key Characteristics
This 1978-built, one-storey home in Varsity View sits on a generous 7,318 sqft lot, offering a solid foundation in a desirable neighbourhood. Its key appeal lies in a combination of space, location, and established value. The home features 1,168 sqft of living space with a finished basement and a detached garage. The property's competitive rankings are noteworthy: it sits in the top 15% of all Winnipeg homes for lot size and the top 32% for assessed value ($415,000), indicating a well-regarded asset relative to the broader market.
Its primary appeal is for practical buyers seeking a low-maintenance, single-level layout on a large, private lot—a rarity in mature areas. It suits someone looking to enter a stable, academic-adjacent community without the premium of a newer build, and it presents a clear opportunity for personalization. A thoughtful perspective is its 2016 sale price of $320,000, which, compared to its current assessment, suggests significant equity growth and market confidence over eight years, highlighting it as a historically sound holding. It’s ideally suited for downsizers, small families, or investors attracted by the lot potential and the neighbourhood's enduring demand.
Frequently Asked Questions
1. How does the age of the home (built in 1978) affect its condition?
While the home is nearly 50 years old, its above-average rankings for age within the street (top 26%) and community (top 35%) indicate it is relatively newer than many surrounding properties. Buyers should still budget for standard maintenance and updates expected for a home of this era, but it is not among the oldest in the area.
2. What do the "rankings" actually mean for a buyer?
These rankings show how this property compares to others in the immediate area and city. For example, ranking in the top 15% in Winnipeg for lot size is a major advantage, suggesting future redevelopment potential or simply more outdoor space than most city properties. The high ranking for assessed value also signals that the city views it favorably compared to peers.
3. The living space is 1,168 sqft. Is that enough for a family?
This is a moderate size, ranking near the middle (top 50%) in Winnipeg. Combined with the finished basement, it provides flexible space. It would comfortably suit a small family, a couple, or someone who values expansive outdoor space over a larger interior footprint.
4. Why is the assessed value ($415,000) so much higher than the 2016 sale price ($320,000)?
This reflects the strong market appreciation in Winnipeg over the past eight years, particularly for homes on large lots in established neighbourhoods like Varsity View. The increase aligns with the broader trend and supports the property's current valuation.
5. Who would this property NOT be suitable for?
It may not suit buyers seeking a modern, move-in-ready home without any projects, or those who require an attached garage. It also may not fit those whose priority is maximizing interior square footage above all else, as the living area is average for the city, though the lot size is exceptional.