Property Summary: 159 Lake Street, Birchwood, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Birchwood offers a compelling blend of space, recent updates, and strong value metrics. Its key characteristic is the generous 7,493 sqft lot, which places it in the top 15% for size on its street and provides ample outdoor potential. The 1,695 sqft living area is also notably above average for the immediate area. A significant feature is the renovated basement, adding valuable finished space. The property includes both an attached and a detached garage, a rare combination offering exceptional storage or workshop flexibility.
Its appeal lies in its solid, data-backed standing within its community. The home consistently ranks in the top 20-30% of Winnipeg for lot size, living area, and recent sold price, suggesting it outperforms many comparable properties. It suits buyers looking for a move-in-ready home with a low-maintenance single-level layout, but who also desire a large yard and versatile garage options. It’s particularly suited for those who value outdoor space for gardening, recreation, or future projects, or who need multiple garage bays for vehicles, hobbies, or a home business. The strong rankings indicate a property that is likely a stable, enduring asset in its neighbourhood.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" entail?
While the listing confirms the basement is renovated, specifics on the finish quality, room layouts, and whether it includes a separate entrance or legal suite are not provided. This would be a key point for inspection and discussion with the seller.
2. The home was built in 1984. What major systems might need attention?
At 42 years old, the roof, windows, original plumbing, and electrical systems are at a stage where they may have been updated, but their current condition and age should be verified. The recent renovation likely addressed some areas, but a thorough home inspection is advised.
3. How does the assessed value compare to the recent sale price?
The 2023 sale price of $48.60k was higher than the current assessed value of $44.20k. This is common, as assessed values for tax purposes often lag behind market values. The sale price is a more current indicator of its market worth.
4. The lot is large, but how is it shaped and oriented?
The total square footage is provided, but the lot's dimensions, shape, and sun exposure are not detailed. These factors greatly influence usability for decks, gardens, or additions and should be viewed in person.
5. The rankings are strong, but what are the typical property types in this area?
The home ranks highly against its neighbours, but it's useful to know if the surrounding homes are similar one-storey houses or a mix of styles. This can influence future neighbourhood character and your own property's value trajectory.