Property Overview: 5621 Betsworth Avenue
This well-established bungalow in Winnipeg offers a blend of space, location, and value. Built in 1973, it sits on a large, approximately 9,300 sqft lot, providing ample outdoor room. The home features 1,320 sqft of living space, a finished basement, and an attached garage. Its recent sale in August 2024 at $486,000, above its assessed value, indicates strong market appeal. The property ranks highly within its immediate area for lot size, assessed value, and recent sale price, suggesting it is a competitive and desirable home in its locale.
Key Characteristics & Appeal
The primary appeal of this home lies in its generous lot size and solid positioning within a mature neighbourhood. The large yard is a standout feature, offering potential for gardening, recreation, or expansion. As a single-storey bungalow with a finished basement, it provides flexible living space suitable for growing families or those seeking single-level convenience. The recent sale price demonstrates that buyers are willing to pay a premium for homes in this area, reflecting confidence in the location.
This property would suit buyers looking for a move-in-ready home in a settled community, who value outdoor space over brand-new construction. It’s particularly well-suited for first-time buyers stepping into a home with equity-building potential, or for downsizers seeking a bungalow layout without compromising on yard size. Its above-average rankings for lot size and value in Winnipeg suggest it offers more land than most city properties, a key point for those prioritizing space.
Frequently Asked Questions
1. What is the significance of the property rankings listed?
The rankings show how this home compares to others on its street, in its neighbourhood, and across all of Winnipeg. For example, its lot size is in the top 8% city-wide, meaning it's larger than 92% of Winnipeg properties, which is a significant advantage.
2. The home was built in 1973. What should I consider?
While the home is over 50 years old, its strong market performance suggests it has been maintained. A thorough inspection is recommended to assess the condition of major aging components like the roof, windows, and foundation, which are typical considerations for homes of this era.
3. How does the recent sale price compare to the assessed value?
The home sold for $486,000, which is approximately $42,000 above its 2024 assessed value of $444,000. This is common in active markets and reflects what a buyer was willing to pay based on the home's condition, lot, and location at that time.
4. What are the advantages of a finished basement?
A finished basement adds valuable flexible space that can be used as a family room, home office, or additional bedrooms without increasing the home's above-ground footprint. It effectively increases the usable living area beyond the stated 1,320 sqft.
5. The home has no pool. Is the lot size still beneficial?
Absolutely. The large lot provides private outdoor living space, room for children or pets to play, and potential for additions like a deck, shed, or garden. It offers a sense of openness and privacy that is increasingly rare, which is likely a factor in its high ranking for lot size.