Property Overview & Key Characteristics
This 1973-built, four-level split home in Varsity View offers a practical layout with 1,316 sqft of living space on a large, 7,039 sqft lot, featuring an unfinished basement and a detached garage. Its core appeal lies in a balanced offering of space, location, and value. The property ranks highly for its above-average lot size and living area compared to most of Winnipeg, positioning it as a solid, spacious option within its price range. The established neighborhood and the potential of the unfinished basement for future customization add to its long-term value.
It would suit first-time buyers or downsizers looking for a manageable home with room to grow in a central area. The large lot is a significant asset for those who value outdoor space for gardening, play, or future expansion. It’s a home for buyers who see potential in a well-located property and are comfortable with a classic split-level layout, possibly viewing the unfinished basement as a blank canvas rather than a drawback.
Frequently Asked Questions
1. What are the pros and cons of a four-level split layout?
Pros include clear separation of living and sleeping areas, often with a distinct entryway. Cons can involve more stairs between floors, which may not suit everyone. The layout typically offers good privacy for bedrooms.
2. How does the unfinished basement impact value and utility?
It presents both an opportunity and a project. It lowers the immediate move-in finish level but provides significant storage and the potential to add tailored living space, a workshop, or a recreational room according to a new owner's needs and budget.
3. The lot size is a major feature. What does that practically offer?
Beyond simple yard space, a lot of this size in an established neighborhood provides rare potential for additions like a larger garage, a garden suite (subject to zoning), or simply expansive green space that is hard to find in newer subdivisions.
4. The home is over 50 years old. What should I consider?
While the core structure is proven, a focused inspection on major aging components is wise. This includes the roof, original windows, plumbing, and electrical systems to understand any upcoming maintenance or efficiency upgrades that may be desired.
5. The assessment value is below the asking price. What does this mean?
Municipal assessments are for tax purposes and often lag behind market values. The price is set by the current market. The assessment does, however, indicate the home is valued solidly within the mid-range for the city, suggesting a reasonably priced entry point for negotiations.