Property Overview: 78 Bloomer Crescent
This single-storey home in Varsity View presents a practical and comfortable living opportunity. Built in 1999, it sits on a generous, mature lot of over 5,600 square feet. The 1,246 sqft living space includes an unfinished basement, offering room to grow, and is complemented by an attached garage. Recent data shows it sold for $500,000 in September 2024, which was above its assessed value, indicating strong buyer interest. Its appeal lies in its established neighbourhood setting, the potential of the basement for future customization, and the value of a larger lot in a popular area. This home would suit first-time buyers looking for a solid starter home with expansion potential, or downsizers seeking single-level living without compromising on outdoor space.
A less obvious perspective is its competitive positioning within the broader Winnipeg market. While its size ranks in the middle locally, its newer construction date (1999) places it in the top 21% city-wide for age, suggesting modern building standards and potentially lower immediate maintenance costs compared to much older stock in the area.
Frequently Asked Questions
1. What is the neighbourhood like?
Varsity View is a mature, established community near the University of Manitoba. It offers a blend of quiet, family-friendly streets with convenient access to academic institutions, parks, and amenities.
2. What work might the house need?
As a 25-year-old home, prospective buyers should budget for the eventual replacement of age-related components, such as the roof, major appliances, or the HVAC system. The unfinished basement is a blank slate but will require investment to finish.
3. How does the lot size compare?
At 5,612 sqft, the lot is significantly larger than many in Winnipeg, ranking in the top 40% city-wide. This provides ample private outdoor space, a rarity for newer subdivisions, and is a key asset of the property.
4. Why did it sell for more than its assessed value?
The sale price reflects current market conditions and buyer demand. The assessed value is for taxation purposes and often lags behind fast-moving market values, especially for desirable properties in sought-after locations.
5. Is this a good investment?
The home's recent sale above assessment and its rankings in key categories (like age and lot size) within Winnipeg suggest it holds solid market fundamentals. The unfinished basement also offers a clear path to add value through renovation, which could improve its long-term equity position.