Property Overview & Appeal
This 1971-built, one-storey home in Varsity View sits on a notably large, 8,464 sqft lot, which is its most defining characteristic. With 952 sqft of living space and a finished basement, it offers a practical layout. Its appeal lies in a rare combination for the area: a very spacious, private yard within a mature, established neighbourhood close to the University of Manitoba. The property ranks highly for lot size locally, placing in the top 10% across Winnipeg, suggesting significant outdoor potential and privacy uncommon for the city.
It would best suit a buyer who values land over square footage—perhaps someone looking for garden space, future expansion, or simply room to breathe. It's a practical home for downsizers or first-time buyers seeking a manageable single-level layout in a prime location, with the understanding that the interior is modest and may require updates. A thoughtful perspective is recognizing this as a "lot play"; the value is anchored in the land itself, offering long-term potential in a sought-after community where large parcels are increasingly scarce.
Frequently Asked Questions
1. How does the large lot size impact property taxes?
While the lot is significantly larger than average, the assessed value and subsequent taxes are primarily based on the property's overall market value, which the current assessment places near the Winnipeg median. The large lot contributes to the assessment but does not automatically lead to disproportionately high taxes.
2. What does the "finished basement" entail?
The listing confirms a finished basement but does not specify the extent, quality, or if it includes legal egress/exit points. Buyers should verify the finish level, ceiling height, and whether it includes a bathroom or separate living space to understand its true utility.
3. The home ranks lower for living area. Does it feel small?
At 952 sqft above grade, the living space is below average for the neighbourhood. The finished basement adds functional space, but the main floor layout is compact. It will feel comfortable for individuals, couples, or small families but may be tight for those needing multiple dedicated rooms or extensive storage.
4. Is the lack of a garage a significant drawback?
For many buyers in Winnipeg, a garage is a major asset for vehicle protection. The property offers ample outdoor space where a garage or shed could potentially be added, subject to permits. Its suitability depends on the buyer's willingness to use street/driveway parking or invest in a new structure.
5. The house is 55 years old. What should I be mindful of?
Built in 1971, major systems like roof, plumbing, electrical, and the foundation should be professionally inspected. While updates may have been made, budgeting for potential repairs or modernizations (such as insulation or windows) is prudent. The mature neighbourhood, however, means infrastructure like trees and streets are well-established.