Property Overview: 187 Thompson Drive, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Birchwood presents a practical opportunity with notable strengths. Its primary appeal lies in the combination of a renovated basement and a generous, mature lot of nearly 5,700 square feet, offering both immediate usable space and long-term potential. The detached garage adds functional value.
The home suits two main types of buyers: first-time purchasers or downsizers looking for a manageable single-level layout with modernized living space that extends into the basement, and value-oriented investors or renovators who see the underlying asset—a large lot in an established neighbourhood—as a compelling foundation for future appreciation or redevelopment.
From a less obvious perspective, the property’s rankings reveal a interesting dynamic. While the living area is modest, it ranks highly within its immediate neighbourhood (top 7%), suggesting the home is proportionally sized for its community. Furthermore, its recent sale history (sold in 2019 for $270k) and current assessed value indicate a market segment that may offer more stability compared to highly volatile areas. It’s a property where the land itself is a significant, quiet component of the value proposition.
Frequently Asked Questions
1. What does "renovated basement" typically include?
While specifics should be verified by a viewing and inspection, a listing noting a renovated basement generally means the space has been finished into a livable area, likely with updated flooring, walls, and lighting. It’s important to check for proper permits, ceiling height, and moisture control.
2. How should I interpret the lot size and rankings?
At 5,697 sq ft, the lot is substantially larger than many in Winnipeg (top 39%). The "top 13% on the street" ranking confirms it is one of the largest parcels on Thompson Drive. This is a key asset, providing extra outdoor space, privacy, and potential for additions or landscaping.
3. The home was built in 1952. What should I be concerned about?
While the renovated basement is a plus, a home of this age will have core systems—like plumbing, electrical, roof, and foundation—that are original or have been updated at various times. A thorough home inspection is essential to understand the condition and any upcoming capital costs.
4. Why is there a difference between the 2019 sale price ($270k) and the current assessed value ($31.40k)?
The assessed value is used for calculating municipal property taxes and is not an indicator of market value. Market value is determined by recent sales of comparable properties, current condition, and buyer demand. The 2019 sale price is a more relevant, though dated, market data point.
5. Who handles the maintenance of the detached garage?
As the garage is detached and on the property, maintenance (roof, structure, doors) is the full responsibility of the homeowner, similar to the main house. This offers flexibility but also adds to the list of potential upkeep items to consider.