This 1918 one-and-a-half storey home in Winnipeg’s Booth neighbourhood presents a classic character property on a notably large, 11,253 sqft lot. Its key appeal lies in the combination of a renovated basement, a detached garage, and an exceptionally spacious parcel of land that ranks in the top 3-4% for size on its street and in the wider area. While the living space (1,210 sqft) is modest and the building itself is historically mature, the property offers significant value through its land potential and updated fundamentals. It would suit a buyer looking for a home with classic charm and ample outdoor space in the city, or an investor/renovator who sees long-term value in the substantial lot. The lower assessed value suggests it may be an accessible entry point into the market for those willing to live with or gradually improve an older home.
-
What does the "renovated basement" entail? It's essential to get specifics on the scope, quality, and permits for this renovation, as basements in century-old homes often require careful attention to moisture management and foundational integrity.
-
How does the age of the home impact maintenance? Built in 1918, prospective buyers should budget for and prioritize inspections of major aging systems like plumbing, electrical, and the roof, which may need updating or imminent replacement.
-
What is the potential of the large lot? The land is this property's standout feature. Buyers should consider if the lot size allows for future expansion (subject to zoning), gardening, or simply provides a rare degree of privacy and space in the city.
-
Why is the assessed value relatively low compared to the lot size? The assessed value often reflects the existing structure and its condition. The significant discrepancy between the high land rank and lower value rank suggests the assessment is weighted toward the older, modest-sized home, potentially indicating an opportunity based on land value.
-
What is the neighbourhood character and future outlook? Researching local development plans, traffic patterns, and the mix of homes on Thompson Drive will provide context for the property’s value trajectory and day-to-day living experience.