Property Overview
510 Community Row is a classic one-storey home in Winnipeg's Betsworth area, built in 1948. Its primary appeal lies in its exceptionally large, private lot of over 18,500 square feet—a rare find that places it in the top tier of properties locally for land size. The home itself is modest at 1,334 sqft and features a finished basement and an attached garage. While the house is older and its assessed value is moderate for the market, the property offers significant potential. It would perfectly suit a buyer looking for outdoor space, privacy, and room for future expansion, gardens, or recreation, who is comfortable with the character and maintenance considerations of a well-established home. It’s a property where the land is the standout asset, offering possibilities that newer subdivisions often cannot.
Key Questions & Considerations
1. What does the lot size actually offer?
Beyond simple privacy, a lot of this scale (roughly a third of an acre) provides immense flexibility. It allows for substantial additions like a large workshop, studio, or garage without feeling cramped, and offers ample space for mature gardens, play areas, or even future subdivision potential, subject to city bylaws.
2. Given the age, what should I budget for immediate updates?
Built in 1948, core systems like plumbing, electrical, and the roof should be prioritized in your inspection budget. While the basement is finished, the underlying structure and insulation of an older home are key areas to assess for efficiency and upkeep costs.
3. How does the "finished basement" factor into the living space?
It adds valuable functional space, but it’s important to verify the quality of the finish, ceiling height, moisture control, and whether it includes a proper egress window. This will determine if it feels like a comfortable living area or primarily utilitarian storage and utility space.
4. The assessment value seems lower than expected; why is that?
Municipal assessments often lag behind market trends and primarily reflect a mass appraisal formula. A lower assessment relative to the asking price can indicate seller confidence in the unique land value or recent market shifts, but it’s not a direct marker of sale price. Your offer should be based on recent comparable sales.
5. Who is the ideal buyer for this specific property?
This home is ideal for a hands-on buyer or a growing family who values space over a turn-key modern interior. It appeals to those who see the long-term potential in the land—whether for creating a private oasis, accommodating multi-generational living with an addition, or as a strategic hold in a mature neighborhood. It’s less suited for someone seeking a new, low-maintenance home without renovation plans.