Property Overview & Key Characteristics
This 1955-built, one-storey home on a spacious 5,217 sqft lot in Beaumont presents a classic, grounded opportunity. Its primary appeal lies in its balance of a generous, established lot and a recently renovated basement, offering immediate livability and clear potential for future expansion or landscaping projects. The detached garage adds practical utility. While the 960 sqft living area is modest, its ranking above average for Winnipeg suggests solid value for its footprint. The home’s assessed value is consistent with the mid-range of the street and neighbourhood, indicating a fairly priced entry into a mature area.
This property would suit first-time buyers seeking a manageable home with a great yard, or value-oriented investors looking for a stable rental with upside in the lot size. It’s less suited for those seeking modern open-concept layouts or large interior spaces without undertaking a significant main-floor renovation or addition.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
At over 5,200 sqft, the lot is notably larger than average, ranking in the top 19% on its own street. This is a significant asset, offering more outdoor space than many newer properties.
2. The home sold for significantly less in 2016. What does that indicate?
The 2016 sale price was in the bottom 20% for Winnipeg at that time, likely reflecting a different condition or market cycle. The current assessed value aligns more closely with mid-range neighbourhood averages today, suggesting updates or market appreciation have occurred.
3. Is the renovated basement a legal suite?
The details provided state the basement is renovated but do not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
4. What might the "potential" for this property involve?
The combination of a large lot and a smaller, older bungalow often points to two paths: leveraging the yard for outdoor living, or planning a future main-floor expansion or full rebuild—options not available on smaller, newer lots.
5. How does the age of the home affect its value and appeal?
Built in 1955, it ranks in the top third for age in Winnipeg (newer than 69% of homes), which is positive for an older property. It offers the character and lot size of an established area but will likely have maintenance considerations typical of its era, balanced by the updated basement.