Property Summary: 270 Moray Street, Winnipeg
Section 1: Overview & Appeal
This well-situated one-storey home in the Silver Heights neighbourhood sits on a large, mature lot (over 7,700 sq ft), offering a rare sense of space and privacy for the area. Its key appeal lies in this generous outdoor canvas, combined with the value-add of a renovated basement. The home itself, built in 1960, provides a functional 1,054 sq ft of living space.
The property is best suited for a practical buyer who values land size and potential over a move-in-ready modern footprint. It would appeal to someone looking for a solid foundation—literally, with a finished basement—on which to build equity, whether through gradual updates, leveraging the large yard for additions or gardens, or simply securing a property where the lot itself is a significant asset. The recent sale price suggests it was seen as a value proposition in its market, likely attracting investors, renovators, or first-time buyers willing to trade some interior space for a standout lot size in a established community.
Section 2: Key Questions (FAQs)
1. What does the "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this era often means it has been finished into livable space, such as a rec room, additional bedrooms, or a basic suite, adding valuable functional square footage to the 1,054 sq ft main floor.
2. How does the large lot size impact this property?
The 7,703 sq ft lot is a major feature. It provides ample room for play, gardening, or future expansion like a deck, garage, or even an addition. It also means less direct proximity to neighbours compared to standard lots, offering more privacy and light.
3. The living area is noted as being in the lower percentile for the street. Is the house small?
At 1,054 sq ft, the main living area is modest relative to some neighbours. This highlights that the property's value is weighted more toward its large land parcel and the additional finished space in the basement, rather than a sprawling main-floor footprint.
4. The home sold recently for significantly more than its assessed value. What does that indicate?
This is common and shows that the market determined its worth based on factors like the renovated basement, lot size, location, and current market conditions, which aren't fully captured in the older assessed value for tax purposes. It confirms strong buyer demand for this type of property.
5. What is the neighbourhood character like?
Silver Heights is a mature, established area. The mix of older and mid-century homes on large lots suggests a stable, family-friendly community with a focus on quiet streets and backyard living, rather than high-density or new construction.