Property Overview
This 1987-built, two-storey home in Varsity View offers a compelling blend of space, location, and value. Its key appeal lies in its exceptionally large, approximately 10,888 sqft lot, which places it in the top 5% of all properties in Winnipeg for land size. This provides rare potential for expansion, gardening, or outdoor living within the city. The 1,932 sqft living area is also well above average for the community and city. The home presents as a solid, unrenovated canvas, featuring an unfinished basement. Its strong rankings for size and value against local comparables suggest it is a property with inherent equity, positioned well for both immediate living and future investment through updates.
It would particularly suit buyers seeking a long-term family home where the land itself is a primary asset, or value-oriented purchasers comfortable with a property that requires personalization. It's less suited for those seeking a turn-key, modernized home or requiring attached garage parking.
Frequently Asked Questions
1. What does "unrenovated" or "a canvas" realistically mean for this home?
It indicates the home likely retains its original 1987-era finishes, fixtures, and systems. Buyers should budget for updates to kitchens, bathrooms, flooring, and potentially mechanical systems to modernize it, but this also means there are no poorly executed renovations to undo.
2. How significant is the lot size, and what could I do with it?
A lot of nearly a quarter-acre in this established neighbourhood is a major asset. Beyond a large yard, it offers potential for significant additions, building a garage or workshop, or creating extensive landscaped areas—options rarely available on typical city lots.
3. What are the implications of having no garage?
This means parking is limited to the driveway, and all storage, workshop, and vehicle protection needs must be addressed on-site. The large lot does provide space to potentially build a garage, subject to city bylaws and permits.
4. The home ranks highly for size but lower for "newness." Is this a concern?
The "newness" rank reflects its 1987 age compared to newer builds. It is not a historical home, but a late-20th-century property. The consideration is less about obsolescence and more about the condition and remaining lifespan of its original roof, windows, and major components, which should be carefully evaluated.
5. Why is the assessed value a useful metric here?
The assessment suggests the property is already valued highly by the city assessor relative to Winnipeg overall, indicating a strong underlying value for the land and structure. This can provide a benchmark for its base worth in the market, independent of current listing trends.