Property Overview & Key Characteristics
This one-storey home in Winnipeg's Booth neighbourhood presents a compelling opportunity centered on its generous, mature lot and recent, significant value increase. Its primary appeal lies in the substantial 8,885 sqft property—a lot size that ranks highly within the street, neighbourhood, and city. The home itself features a renovated basement, a detached garage, and a practical 1,197 sqft living space. A key, less obvious characteristic is the property's dramatic market evolution: it sold for $28.3k in 2016 and then for $480k in 2024, indicating a strong trajectory of investment and desirability for the location.
This property would suit buyers looking for a solid footprint in a well-established area, with the land itself being a major asset. It’s ideal for those who value outdoor space and future potential over a brand-new build, and for owner-occupiers or investors who take confidence in clear, recent evidence of substantial value growth in the area.
Frequently Asked Questions
1. What does the "rank" data actually mean?
The percentile rankings show how this property compares to others. For example, its lot size is in the top 16% for the neighbourhood, meaning 84% of lots nearby are smaller. This quantifies its relative strengths.
2. Why is there such a large gap between the assessed value and the recent sale price?
The assessed value ($40.9k) is for municipal tax purposes and is often significantly lower than market value. The 2024 sale price of $480k is the true indicator of its current market worth.
3. The home was built in 1959. What should I consider?
While the basement has been renovated, a home of this age will likely have original core components (like plumbing, electrical, or the roof) that require inspection to understand their condition and any upcoming maintenance needs.
4. What does the sale history tell us?
The jump from $28.3k in 2016 to $480k in 2024 signals a major transformation for the property or the area. It suggests substantial improvements were made or that the neighbourhood has seen considerable appreciation, making recent comparable sales essential for accurate valuation.
5. Who are the most likely buyers for this home?
It appeals to two main groups: practical homeowners who prioritize a large yard and the character of an established area, and value-driven investors who see the proven asset growth and the potential of the lot itself for future use.