Property Overview
This well-established one-storey home on a large, mature lot in Birchwood presents a solid opportunity in a quiet Winnipeg neighbourhood. Its key appeal lies in the combination of a renovated basement, an attached garage, and a notably generous land area of over 8,300 sqft, which places it in the top tier for lot size both on its street and city-wide. The home suits first-time buyers looking for a move-in-ready property with expansion potential, or downsizers seeking single-level living with ample outdoor space and a low-maintenance footprint. A thoughtful perspective is the value of the lot itself; in an area of newer, denser developments, such a large, private yard is a increasingly rare commodity that offers both immediate enjoyment and long-term potential.
Key Details & Buyer Suitability
- Key Characteristics: A 1959-built bungalow with 1,307 sqft of living space, featuring a renovated basement and an attached garage. The standout feature is the 8,308 sqft lot, which ranks in the top 10% for size in Winnipeg.
- Primary Appeal: The appeal is grounded in space and stability. The large lot provides privacy and room for gardens, play, or expansion. The recent basement renovation adds modern living space, and the home’s strong assessed value and recent sale history suggest a stable investment in a mature neighbourhood.
- Ideal Buyer: This property is an excellent fit for practical buyers who prioritize outdoor space over a large interior footprint. It would suit a young family valuing a big yard, or retirees looking for a manageable single-level layout without sacrificing property privacy. Its recent sale price also indicates it’s positioned for buyers with some flexibility beyond the entry-level market.
Frequently Asked Questions
1. How does the lot size compare to newer subdivisions?
This lot is significantly larger than those typically found in modern developments. At over 8,300 sqft, it offers a level of outdoor space that is now uncommon, providing a rare sense of openness and privacy in the city.
2. What does the "renovated basement" entail?
While the listing confirms the basement is renovated, specifics on finish quality, permits, and the scope of work (e.g., full legal suite, recreational space, or updated utilities) should be verified with the seller or a viewing. This is a key feature to explore in detail.
3. The home sold recently in August 2024. What does this mean?
The quick resale could indicate a number of things—from an investor’s flip to a change in a buyer’s circumstances—and is not inherently negative. It does, however, provide a very recent and clear market price benchmark, which is unusual and valuable for comparison.
4. Is the neighbourhood primarily older homes?
Yes, Birchwood is a mature neighbourhood. The home’s age (1959) is typical, and the high ranking for lot size on the street suggests it is among the more spacious properties in the area, which may consist of a mix of original and updated homes.
5. How does the assessed value relate to the likely asking or sale price?
The assessed value ($48.10k) is for municipal tax purposes and is typically far below market value. The recent sale in August 2024 for $560k is the relevant figure for understanding current market value. Always rely on recent comparable sales, not tax assessments, for pricing.