Property Overview: 103 Olive Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Birchwood is defined by its generous, mature lot and solid, updated fundamentals. The nearly 8,700 sqft property lot is a standout feature, ranking in the top 2% on its street, offering exceptional outdoor space and privacy for the area. The home itself provides comfortable, renovated living space of over 1,700 sqft, which is notably above average for the immediate vicinity. Key practical updates include a renovated basement and an attached garage.
The primary appeal lies in securing a property with land value that outperforms most of the neighbourhood, combined with a move-in-ready foundation. It suits buyers looking for a single-level layout on a quiet street, who value expansive yard potential over a brand-new build. It’s particularly well-matched for those who see the long-term value in a large lot in an established community, and for whom recent, significant renovations like the finished basement are a priority over a more modern exterior.
Section 2: Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is exceptionally large for the street and area, placing it in the 98th percentile on Olive Street. This is one of the property's most defining and valuable characteristics.
2. What is the neighbourhood like?
Birchwood is an established, mature neighbourhood. The high percentile rankings for lot size and living area suggest this specific street offers more spacious properties compared to other parts of the area.
3. Has the property value been stable?
The assessed value of $470k is consistent with similar homes in other neighbourhoods like Elmhurst. Historical data shows it sold for $460k in mid-2020, indicating stable value in recent years.
4. Is the home older? What does that mean for maintenance?
Built in 1963, the home is of an age where core systems may need evaluation or updating. However, key areas like the basement have been renovated, which is a significant advantage.
5. How does the living space compare?
At 1,708 sqft, the living area is above average for the street (top 6%) and neighbourhood (top 23%), offering more interior space than many nearby properties.