Property Overview
281 Wallasey Street is a well-maintained one-storey home in Winnipeg's Booth neighbourhood, built in 1961. Its primary appeal lies in its balance of space, recent updates, and solid value within its area. The home sits on a large, 6,263 sqft lot—significantly above average for its street and neighbourhood—offering ample outdoor space. Key features include a renovated basement and an attached garage. With 1,176 sqft of living space, it provides comfortable room for daily life.
This property is a strong candidate for first-time buyers, downsizers, or value-focused investors seeking a move-in-ready home with a low property tax base (assessed at $36,800). Its recent sale in early 2023 suggests a stable, established value. The appeal is practical: you get more land than most nearby properties, a modernized basement, and the ease of single-level living, all without a premium price tag. It suits someone who prioritizes a private yard and functional space over a brand-new build or a central location.
Key Questions for Buyers
1. What does the "renovated basement" include?
While listed as renovated, specifics on finish quality, ceiling height, permits, or whether it’s a legal suite are not provided. This is a key point for verification, as it impacts both livable space and value.
2. How does the large lot affect maintenance and utility costs?
A lot size in the top 29% for the neighbourhood is a major asset for privacy and gardening, but it also means higher costs for lawn care, snow clearing, and potentially higher water usage in summer.
3. The home is older—what major systems might need attention?
Built in 1961, the roof, windows, plumbing, and electrical systems should be carefully inspected. Their condition will significantly influence immediate and future budgeting.
4. The assessed value is notably low. Is this an advantage?
Yes, a $36,800 assessment typically translates to very manageable property taxes, a clear financial benefit. However, it’s wise to understand why it’s assessed this way and ensure the sale price aligns reasonably with similar area sales.
5. What is the feel of the immediate block?
With several sold properties nearby and direct neighbours close by (15-17 meters), the street appears established and stable. Speaking to neighbours would provide insight into noise levels, community feel, and any block-specific considerations.