Property Overview: 702 Bond Street, Victoria West, Winnipeg
Section 1: Key Characteristics & Appeal
This 1938-built home on Bond Street presents a specific and pragmatic opportunity in Winnipeg’s Victoria West neighbourhood. Its key appeal lies in value and location, rather than size. With 720 sqft of living space, the home is notably compact, ranking in the bottom 10-11% for size on its street and in the broader community. This translates to a manageable, low-maintenance interior footprint.
The property’s strength is its assessed value for taxation purposes ($288,000), which is competitive. It ranks in the top 34% on its street and near the neighbourhood average, suggesting the lot and location are recognized as valuable, even if the house itself is modest in scale. The lot, while below the city average, is a standard size for the central area.
This home would suit first-time buyers, downsizers, or investors seeking an entry point into a central neighbourhood without a premium price tag. It’s for those who prioritize location and lot potential over immediate living space, and who are comfortable with a home that may require updates reflective of its era. A thoughtful perspective is that its below-average size and near-average assessment could indicate an opportunity: the value is anchored in the land and location, offering a canvas for expansion or renovation for a buyer with a longer-term vision.
Section 2: Frequently Asked Questions
1. Is this a small house?
Yes, at 720 sqft, the living space is significantly below the averages for Bond Street (993 sqft), Victoria West (976 sqft), and Winnipeg overall (1,342 sqft). It is a compact, efficient layout.
2. Why is the tax assessment relatively high for a small home?
The assessment reflects both the building and the land value. Its ranking suggests the value is driven more by its desirable location in Victoria West and its lot, rather than the size or condition of the structure itself.
3. What does the 1938 build year mean for maintenance?
Built in 1938, the home is older than most in Winnipeg. Buyers should budget for potential updates to older systems like wiring, plumbing, or windows, and consider a thorough inspection. Its age is typical for the immediate street.
4. Is the lot a good size?
At 3,659 sqft, the lot is slightly below the street average but is a standard urban parcel for central neighbourhoods. It provides adequate outdoor space but is not exceptionally large.
5. How does this property compare to others in the area?
The data shows it’s a smaller-than-average home on a standard lot in a sought-after location. You are paying primarily for the neighbourhood and the land. It compares favourably on value assessment but requires a willingness to live in or upgrade a compact, character home.