Property Summary: 406 Chalfont Road, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on a large, approximately 9,900 sqft lot in the desirable Varsity View neighbourhood. Built in 1973, its primary appeal lies in its generous land size, which ranks within the top 6% of all properties in Winnipeg for lot dimensions. The home itself offers 1,296 sqft of living space with a finished basement and an attached garage. Its standout value is derived from its location and land, outperforming 94% of Winnipeg properties for lot size and 75% for assessed value within the city. The neighbourhood ranking is particularly strong, placing in the top 17% for lot size among local homes.
This property would suit a buyer looking for a solid investment in a prime location, where the land itself represents significant value. It’s ideal for someone comfortable with a home from the 1970s who may have long-term plans to renovate or expand to fully utilize the expansive lot. It also appeals to those seeking stability in a mature, academically-oriented community close to the University of Manitoba, who prioritize outdoor space and future potential over a brand-new build.
Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg for specific metrics like lot size and age. For example, being in the "top 6%" for lot size in Winnipeg means 94% of city properties have smaller lots, highlighting a key competitive advantage.
2. The home was built in 1973. What should I consider?
While the structure is over 50 years old, its high city-wide rankings for lot and assessed value suggest the location and land compensate for the building's age. Buyers should budget for potential updates to major aging components like the roof, windows, and mechanical systems, while viewing the property as a land-centric purchase.
3. How does the lot size impact the property?
A lot of this size (nearly 1/4 acre) is rare in the city, offering exceptional outdoor space, privacy, and potential for additions, a garden, or recreational areas. It provides a suburban feel within a mature neighbourhood, which is a key driver of its value.
4. Is the finished basement included in the 1,296 sqft living area?
Typically, living area (sqft) refers to above-grade space. The finished basement is an additional feature, adding usable living space that is not reflected in the main square footage figure.
5. The assessment is $455,000. How does that relate to the listing price?
The assessed value is for municipal tax purposes and is based on mass appraisal techniques. It is a useful benchmark that shows the property is valued in the top 25% city-wide, but the final sale price is determined by the current market, condition, and desirability of the home and lot.