Property Overview: 224 Harcourt Street
Key Characteristics & Appeal
This home is defined by its substantial, mature lot—over 13,000 square feet—which places it in the top tier for land size within its street, neighborhood, and the wider city. The house itself is a renovated one-storey bungalow from 1963 with a comfortable 1,161 sqft living area. Its assessed value is notably strong for the area, a trend confirmed by its 2022 sale price, which was significantly higher than most comparable sales in Winnipeg at the time. The property includes a detached garage and a renovated basement.
The primary appeal lies in the rare combination of a very large, established lot in a mature neighborhood and a home that has seen key updates. It suits buyers looking for outdoor space, privacy, and the potential for gardening or expansion, without taking on a full renovation project. It would also attract value-conscious buyers who appreciate that the property's assessed and recent market values consistently outperform most local and city-wide benchmarks, suggesting a well-regarded location. A less obvious perspective is that a home of this era on such a large lot may offer simpler, more flexible living spaces compared to newer builds, appealing to those seeking a blank canvas for personalization over time.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specific details on the finish, rooms, or permits should be verified with the selling agent. It's an important feature that adds functional living space.
2. How does the large lot size impact maintenance?
While offering excellent privacy and space, a lot of this scale requires more time or investment for lawn care, landscaping, and seasonal upkeep compared to a standard city lot.
3. The home's living area is average for the area; how does the value justify it?
The value is driven significantly by the land itself—its size and location—rather than the square footage of the house. This is common in mature neighborhoods where the lot is a major asset.
4. The year built is 1963; are there any major system concerns?
Given the age, it is prudent to inquire about the age and condition of major systems like the roof, plumbing, electrical, and heating, even with a renovated basement. An inspection is highly recommended.
5. Why is the assessed value so much lower than the 2022 sale price?
Municipal assessed value for taxation purposes often lags behind market value and is calculated using a different methodology. The 2022 sale price is a clearer indicator of its recent market value.