Property Summary: 608 Bruce Avenue, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, one-storey home built in 1964, situated on a notably large lot of over 7,100 square feet in the Booth neighbourhood. Its primary appeal lies in a combination of space, value, and established community. The renovated basement adds functional living area to the 1,327 sqft main floor. While the home itself is of average size for the area, the property ranks highly for its expansive lot, which is in the top 16% for size across Winnipeg. This presents a significant opportunity for gardening, outdoor living, or future expansion.
The home suits first-time buyers or downsizers looking for a manageable single-level layout with room to grow outdoors. It also appeals to value-conscious buyers seeking a property where the land itself represents a substantial portion of the asset. Recent sale data shows it sold above its assessed value, suggesting a competitive market perception of its worth. The rankings indicate it’s a solid, middle-of-the-road property within its immediate neighbourhood but stands out for lot size and street appeal when viewed in the wider city context.
Frequently Asked Questions
Q: How does the large lot size impact this property?
A: Beyond private outdoor space, a lot of this size (top 16% in Winnipeg) is a long-term asset. It offers potential not just for enjoyment, but also for future projects like a garage, workshop, or addition, which smaller lots in the area may not accommodate.
Q: The home was built in 1964. What should I consider?
A: While the basement has been renovated, the core structure is from the 1960s. A thorough inspection is advised to assess the condition of major aging components like the roof, plumbing, and electrical systems, which may be original or nearing their lifespan.
Q: The assessed value is significantly lower than the recent sale price. Why?
A: Municipal assessed values in Manitoba are for taxation purposes and often lag behind current market values. The sale price of $390k is a more accurate reflection of its recent market worth, influenced by factors like the renovated basement, lot size, and neighbourhood demand.
Q: What is the neighbourhood like based on this data?
A: The data suggests Booth is an established, stable area. The property ranks around the middle for most metrics within the neighbourhood, indicating it’s typical for the area rather than an outlier, which can be positive for consistent property values.
Q: There’s no garage. Is that common here?
A: The listing notes no garage, and nearby similar properties also show none. This is common for older neighbourhoods. The large lot, however, does provide space to add one, subject to local bylaws and permits, which is a key advantage over properties on smaller lots.