Property Overview & Key Characteristics
This well-situated one-storey home on a spacious lot in Birchwood presents a practical and value-oriented opportunity. Its primary appeal lies in a combination of location, lot size, and recent updates. The home features a renovated basement, adding valuable finished living space to the 780 sqft main floor. With a detached garage and a land area of over 5,000 sqft, the property offers classic Winnipeg practicality with room for gardens, play, or expansion.
The home would suit first-time buyers looking for a move-in-ready property with a major renovation already completed, or downsizers seeking single-level living without compromising on outdoor space. Its strong rankings for lot size within its immediate street and neighbourhood highlight a premium characteristic that is increasingly rare. A thoughtful perspective is that while the home itself is modest in size, the significant lot provides a long-term asset—the land itself holds substantial value and potential. The recent sale at a notable premium over the assessed value suggests a strong market recognition of these combined features.
Frequently Asked Questions
Q: How does the lot size compare to typical properties in Winnipeg?
A: At 5,129 sqft, the lot is significantly larger than average, ranking in the top 49% city-wide. In its own Birchwood neighbourhood, it ranks in the top tier, making it a standout feature.
Q: The home was built in 1952. What should I consider?
A: While the basement has been renovated, the core structure is 74 years old. Prospective buyers should focus inspections on the foundational elements, roof, wiring, and plumbing that may be original, even if cosmetic updates are newer.
Q: The assessed value is much lower than the recent sale price. Why?
A: Municipal assessments often lag behind rapid market shifts and may not fully capture the value of recent renovations or premium lot sizes. The sale price of $250k is the current market valuation, reflecting what buyers are willing to pay for this specific property's package.
Q: What does the "ranking" data actually tell me?
A: It contextualizes each feature against nearby homes. For example, this home's living area is compact but ranks highly locally, suggesting the area has many cozy homes. Conversely, its lot size ranks exceptionally well, confirming it as a key advantage.
Q: Is the renovated basement a legal suite?
A: The listing states it is a renovated basement, not a legal rental suite. Buyers interested in generating rental income would need to investigate the specific renovations and consult the city on the requirements and process for legalization.