Property Summary: 63 Prairie View Road
Key Characteristics & Appeal
This is a well-situated, one-storey home in Winnipeg's Booth neighbourhood, built in 1967. Its primary appeal lies in its generous 7,199 sqft lot, which is larger than 60% of properties on its street and in its neighbourhood, offering significant outdoor space and potential. The home features a renovated basement and an attached garage. The living area of 1,356 sqft is comfortably sized, ranking in the top third locally.
The property’s value proposition is underscored by its assessment history. With a current assessed value of $46.40k, it ranks highly within its immediate area (top 15% on the street, top 7% in the neighbourhood), suggesting it is viewed as a solid asset relative to its peers. A notable sale in February 2021 at $300k provides a recent benchmark. This home would suit a buyer looking for a established neighbourhood with space, where the land itself represents a substantial portion of the asset's value. It's ideal for those who appreciate a single-level layout, value outdoor room for gardening or expansion, and are savvy about properties with a strong assessed value position in their micro-market.
Frequently Asked Questions
Q: How does the lot size compare to typical properties in Winnipeg?
A: The lot is quite large, placing in the top 15% of all properties in Winnipeg. This is one of its standout features.
Q: The home was built in 1967. What should I consider?
A: While the basement has been renovated, the core structure is from 1967. A thorough inspection is recommended to understand the condition of major systems like plumbing, electrical, and the roof, which may be due for updates or replacement.
Q: The assessed value seems low compared to the 2021 sale price. Why?
A: Municipal assessed value for taxation purposes often lags behind market value and uses a different methodology. The 2021 sale price of $300k is a more direct indicator of its recent market value, while the low assessment could be seen as a positive for ongoing property tax costs.
Q: What does the "rank" information for the street and neighbourhood mean?
A: These rankings compare this specific property against its closest neighbours and the wider area for metrics like lot size, year built, and value. For example, ranking in the "Top 15%" for assessed value on its street means 85% of nearby homes have a lower assessed value, which can indicate a strong relative position.
Q: Is the February 2021 sale price a reliable indicator of current value?
A: It's a crucial data point, but the market has likely evolved since early 2021. It establishes a firm baseline, but a current market evaluation is necessary to determine today's value, considering interest rate and market changes over the past few years.