Property Summary: 550 Bruce Avenue, Winnipeg
Key Characteristics & Appeal
This is a well-situated, one-storey home in the Booth neighbourhood, built in 1963. Its primary appeal lies in a combination of space, location, and value. The lot is a significant asset, at over 5,300 square feet, placing it in the top 5% for size on its street and offering ample outdoor potential. The home itself features a renovated basement, adding valuable finished living space to the 1,148 sqft main floor, and includes a detached garage.
The property suits practical buyers looking for a solid foundation in a mature neighbourhood. It’s ideal for someone who values a larger yard for gardening, children, or future projects, and who appreciates the flexibility a renovated basement provides for family, hobbies, or rental income. The assessed value suggests it is positioned as a sensible, mid-range option within Winnipeg, potentially appealing to first-time buyers or downsizers seeking single-level living without sacrificing yard space. A thoughtful perspective is that while the home is older, its above-average lot size in a built-up area is a permanent advantage that cannot be replicated in newer subdivisions.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in the neighbourhood, and across Winnipeg. For example, the lot size ranks very highly locally, meaning you're getting more land than most nearby properties. The year-built rank indicates the home is older than many on its street, which is typical for the area.
2. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. A buyer must verify with the city if it meets all code requirements for a rental suite, as this affects insurance, financing, and permitted use.
3. How does the recent sale history influence the price?
The property sold in January 2021 for $37,200. The current assessed value is $36,400. This history provides a benchmark, but the current market conditions and any updates made since 2021 will be the primary drivers of the listing price.
4. What are the implications of a detached garage?
A detached garage offers flexibility and can be ideal for a workshop or to separate vehicle fumes from the house. However, it may be less convenient during Winnipeg winters compared to an attached garage, so consider your daily routine and climate preferences.
5. Who might the "similar assessed value" properties be relevant for?
These are properties in other neighbourhoods assessed at the same value by the city. They are useful for buyers comparing broad value across different areas, but not for direct home comparisons, as lot size, condition, and location will vary significantly.