Property Overview
This home at 508 Bond Street presents a balanced offering in Winnipeg's Victoria West community. Built in 1928, it features 1,010 sqft of living space on a 3,659 sqft lot, with a municipal assessed value of $287,000. Its core appeal lies in its established neighborhood setting and relative value. When compared locally on Bond Street and within Victoria West, the property consistently performs near or just below the area averages for size, lot, and value, indicating it's a typical home for this specific locale. However, compared to the entire city of Winnipeg, it sits notably below averages in living space, lot size, and assessed value, which highlights its position as a more accessible entry point into the detached home market within a mature, central area.
The property would suit a first-time buyer or a downsizer seeking a character home in a settled neighborhood without a premium price tag. It’s for someone who values location and community character over sheer size or modern construction. A thoughtful perspective is that its "below city average" metrics are actually its advantage, offering a manageable scale and tax burden. Its 1928 vintage suggests potential for classic architectural details but also implies a need for diligent maintenance and updates.
Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data shows it is very much in line with its immediate surroundings. On Bond Street and in Victoria West, it ranks close to the average for living space, lot size, and assessed value. This means it's a representative, not an outlier, property for this specific neighborhood.
2. The assessment is below the Winnipeg average. Is that good or bad?
This is a key point. While the assessed value is below the citywide average, it is competitive within Victoria West. This typically translates to relatively lower property taxes compared to many other parts of Winnipeg, which is a financial advantage for the owner.
3. What should I consider about a home built in 1928?
Homes of this era often possess solid construction and charming details. However, prospective buyers should prioritize inspections for the age of major systems (like plumbing, electrical, and heating), insulation, and the condition of the foundation and roof. Renovations may need to balance modern efficiency with preserving historical character.
4. The lot size is smaller than the city average. Is the yard still usable?
At over 3,600 sqft, the lot is still a good size for a city home, likely accommodating a decent backyard. It's smaller than newer suburban lots but is typical for the central, established neighborhood. It offers outdoor space without the high maintenance of a very large plot.
5. Who would this property not suit?
It may not be ideal for buyers seeking a large, modern, move-in-ready home with expansive square footage. Those needing multiple large bedrooms, extensive entertaining space, or a blank canvas for new construction would likely find it limiting. It's best for those comfortable with the scale and upkeep of a nearly century-old home.