55 Agassiz Drive

Property Summary: 55 Agassiz Drive, Winnipeg

Section 1: Overview & Appeal

This bi-level home at 55 Agassiz Drive is a property defined by its established neighbourhood setting and practical layout. Its key characteristics include a renovated basement, a detached garage, and a generous 6,299 sqft lot that ranks in the top 5% for size within the sought-after Agassiz area. Built in 1964, the house itself has a modest living area of 1,059 sqft.

The primary appeal lies in its location and land. The lot size is a significant asset, offering ample outdoor space and potential in a mature, well-ranked neighbourhood. The renovated basement adds functional living space, making the home more versatile than its main floor square footage might suggest. Its recent sale in August 2023 for $390,000 indicates strong market recognition.

This property would best suit practical buyers who value space and location over a large or modern interior. It’s ideal for first-time homeowners comfortable with a bi-level layout, or downsizers seeking a manageable home with a large yard in a quiet, established community. It represents an opportunity to own a home in a top-tier neighbourhood, where the value is anchored by the land, with the house itself offering a functional, low-maintenance footprint.

Section 2: Key Questions (FAQs)

1. Why is the assessed value so much lower than the recent sale price?
Property assessments in Manitoba are for taxation purposes and use a mass appraisal system, often lagging behind current market values. The sale price reflects what a buyer recently paid in the open market, which is influenced by demand, condition, and lot value—factors the assessment may not fully capture.

2. The living area is noted as being in the bottom tier for the street. Is the house unusually small?
At 1,059 sqft, the above-ground living area is compact compared to some neighbours. However, the renovated basement effectively doubles the usable living space, which isn’t always fully reflected in official living area metrics. The focus here is on efficient use of space combined with a very large lot.

3. What does the lot size ranking actually mean for me?
Ranking in the top 5% of the neighbourhood for lot size means this is one of the largest standard residential parcels in Agassiz. This provides exceptional privacy, room for gardening, play, or expansion, and is a key long-term value driver that sets it apart from nearby properties.

4. The home is 60 years old. What should I be aware of?
While the basement has been renovated, a home of this age will have core systems (roof, plumbing, electrical, foundation) that are likely original or older. A thorough inspection is essential to understand the condition and plan for future updates, balancing the charm of an established home with practical maintenance considerations.

5. How does the detached garage impact usability?
A detached garage offers flexibility—it can be a workshop or project space without concerns for fumes or noise in the house. However, it means a walk to and from your vehicle in Winnipeg winters. For some, this is a worthwhile trade-off for the separation and potential uses.