Property Overview
This 1964-built, one-storey home on a large 8,284 sqft lot presents a classic and practical living opportunity. Its key appeal lies in the combination of a spacious, private yard and a fully finished basement, offering significant potential for a growing household or someone seeking room to expand. With a living area of 1,162 sqft, it provides comfortable main-floor living. The property's strong city-wide ranking for lot size (top 10%) highlights its standout feature: generous outdoor space in an established neighbourhood. It would suit first-time buyers looking for a home with a blank-canvas yard, downsizers who prefer single-level living but don't want to compromise on garden space, or value-oriented buyers who see potential in the solid foundation and finished basement for future customization.
Key Questions & Considerations
1. What is the significance of the lot size ranking?
The property's lot size ranks in the top 10% across all of Winnipeg, meaning you are getting substantially more land than most city properties. This is a permanent asset that offers privacy, space for gardening, play, or future additions like a garage or deck.
2. The home was built in 1964. What should I expect?
Buyers should anticipate the character and potential update projects common to homes of this era. While the finished basement adds immediate liveable space, the main living areas may reflect older design styles. A thorough inspection is advised to understand the condition of major systems like plumbing, electrical, and the roof.
3. Who might this property not suit?
It may not be ideal for those seeking a modern, move-in-ready home without any projects, or for buyers who require an attached garage. Its appeal is geared more toward those who value land and space over brand-new finishes.
4. How does the 2017 sale price compare to the current assessment?
The home sold for $355,000 in 2017 and now has a municipal assessment of $430,000. This increase reflects broader market trends and the value placed on its large lot. The assessment is a starting point for market valuation, not a guaranteed sale price.
5. What's a less obvious angle to consider with this home?
The fully finished basement is a notable asset. Beyond extra living space, it could provide a separate area for a home office, multi-generational living, or a rental suite (subject to city bylaws), making the home more versatile and potentially helping with mortgage affordability.