Property Summary: 415 Thompson Drive, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in the Booth neighbourhood is defined by its generous, mature lot and solid value proposition. The nearly quarter-acre (10,681 sqft) property is a standout feature, ranking in the top 7% for lot size on its street, offering significant outdoor space and potential in a city setting. The home itself is a manageable 1,271 sqft bungalow from 1962, featuring a renovated basement and a detached garage. Its appeal lies in a compelling blend of space, location, and recent market validation. It sold for $41,500 in October 2024, which was close to its assessed value, suggesting a transparent and stable transaction.
This property would suit a first-time buyer or downsizer looking for a low-maintenance, single-level layout with ample yard space for gardening, pets, or future expansion. It also appeals to the value-conscious buyer who prioritizes a large lot in a established neighbourhood over a newer home, seeing the land itself as a primary asset. The recent sale indicates a turnkey opportunity without a prolonged bidding process, ideal for someone seeking a straightforward purchase.
Frequently Asked Questions
1. What does the "ranking" data actually mean for daily life?
The rankings show the property's position relative to nearby homes. For example, a lot size in the "top 7%" on the street means you'll have one of the largest yards in the immediate area, offering more privacy and space than most neighbours. Conversely, the home's age ranking lower indicates many nearby houses are newer, which may be a consideration for maintenance planning.
2. The home sold recently. Does that mean there's no room for equity growth?
Not necessarily. A recent sale at a price near assessment suggests you are paying a fair, market-tested price. The large lot size in a mature neighbourhood is a long-term asset that typically holds and grows in value, providing a stable foundation for future equity.
3. Is a detached garage a drawback?
It depends on your priorities. A detached garage offers flexibility—it could be used as a workshop or studio without affecting the main house. However, it means a walk to your car in Winnipeg winters, which is a practical consideration for some buyers.
4. The living area is ranked near the middle for the neighbourhood. Is the house too small?
At 1,271 sqft plus a renovated basement, the home offers functional space for a small family or couple. The "middle-of-the-pack" ranking actually suggests it fits comfortably within the neighbourhood's norm, neither unusually small nor large, which can be positive for resale.
5. How does the renovated basement impact the home's value and use?
A renovated basement immediately adds usable living space, whether for a family room, home office, or guest area. It's a key functional upgrade that means you likely won't face a major renovation project upfront, adding to the home's move-in readiness.