Property Overview & Key Characteristics
This 1961-built, one-storey home at 48 Thatcher Drive sits on a generous 6,281 sqft lot in Winnipeg's Agassiz neighbourhood. Its primary appeal lies in the combination of a renovated basement and a lot size that ranks in the top 5% on its street and top 3% in the wider neighbourhood, offering significant outdoor space and potential. With 1,229 sqft of living area, it is a comfortably sized home that stands above most immediate comparables in its area.
The property would suit first-time buyers or downsizers looking for a solid, single-level layout with modernized below-ground space and room to garden or expand outdoors. It also presents a clear value proposition for value-conscious buyers, as its last sold price in 2022 was notably below its current assessed value, suggesting potential equity. The lack of a garage may deter some, but the large lot provides ample space to add one if desired.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the quality of the renovation, the materials used, and whether it includes a legal secondary suite or additional bedrooms.
2. How does the lack of a garage impact daily life and value?
While the property has no garage, the very large lot is a key asset that offers the possibility of adding a detached garage or carport. Buyers should budget for this potential future cost and consider street parking in the interim.
3. The home last sold in 2022 for $38.3k, but is now assessed at $41.6k. What does this mean?
This indicates the municipal assessment has increased, which is common after a sale establishes a new market value. It suggests the property may have gained value, but the true market price is determined by current buyer demand, not the assessment.
4. The lot is large, but is it usable?
A top-ranking lot size is a major advantage. Buyers should verify the lot's topography, drainage, and any restrictive covenants to ensure it is fully usable for gardening, recreation, or future additions.
5. How does this home compare to others in the area?
This home has a larger lot but slightly less living space than many similar-aged homes in nearby neighbourhoods like Waverley Heights and Minnetonka. It represents a trade-off: more outdoor space for slightly less indoor square footage, often at a lower price point.