Property Overview: 432 Wallasey Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Booth offers a compelling blend of space, location, and established value. Its primary appeal lies in its generous 8,460 sqft lot, which is significantly larger than most in Winnipeg (ranking in the top 10%), providing ample outdoor space and potential in a mature neighbourhood. The home itself features a renovated basement and a detached garage, adding functional living and storage space.
The property suits practical buyers looking for a solid, long-term home in a settled area. It’s ideal for those who prioritize a large yard for gardening, recreation, or future expansion over a brand-new build. The data suggests a history of stable value, having sold in 2016 for $280k and now assessed at $340k, indicating a well-maintained asset in a neighbourhood that holds its worth. A thoughtful perspective is that while the house was built in 1958, its lot size is a permanent and increasingly rare commodity that offers flexibility that a newer home on a smaller plot may not.
Section 2: Frequently Asked Questions
1. How does the age of the home (built 1958) affect its condition and costs?
While the home is older, the presence of a renovated basement is a positive update. Buyers should budget for standard maintenance expected of a home of this age and consider a thorough inspection to assess the roof, major systems, and the scope of the basement renovation.
2. What does the lot size ranking actually mean for me?
Ranking in the top 10% in Winnipeg for lot size means this property offers an unusually large yard compared to the vast majority of homes in the city. This translates to more privacy, space for additions like a shed or deck, and less feeling of being crowded by neighbours.
3. The assessed value is higher than the 2016 sale price. Is this accurate?
Municipal assessed values are used for tax purposes and are a general indicator of market value, but not a guaranteed sale price. The increase from $280k to $340k over eight years reflects broader market trends and the home’s maintained condition. The final sale price will be determined by current market conditions.
4. Who are the typical neighbours or buyers in this area?
The neighbourhood of Booth is established and diverse. Given the home’s layout and large lot, it would likely appeal to families, downsizers seeking single-level living with outdoor space, or value-focused buyers looking for a footprint that allows for future customization.
5. How does this home compare to others on the same street?
The home ranks in the top half of Wallasey Street for living area and assessed value, but its most standout feature is its lot size. It offers more land than over 60% of properties on the street, which is a key differentiator. Its age is older than about 80% of street homes, so condition and updates are important factors to weigh against the space benefits.