Property Overview: 725 Sturgeon Road
Key Characteristics & Appeal
This well-situated one-storey home in Winnipeg's Booth neighbourhood presents a solid opportunity on a generous 4,295 sqft lot. Built in 1966, its key updated feature is a renovated basement, adding valuable finished living space to the 1,167 sqft main floor. The home includes a detached garage.
Its primary appeal lies in its established location and lot size. The property ranks within the top 5% for lot size in its immediate neighbourhood, offering above-average outdoor space—a notable find in mature areas. While the living area is modest, the renovated basement effectively expands the usable footprint. The home suits practical buyers looking for a move-in-ready base with minimal immediate projects, first-time homeowners seeking a manageable property with a large yard, or long-term residents valuing the stability and space of an established community over a newer, but potentially smaller, lot.
A less obvious perspective is its financial positioning. With an assessed value significantly lower than its last sale price in 2021, it may attract buyers attentive to potential property tax advantages or those who see inherent value not fully reflected in the official assessment. It represents a grounded, no-frills option in a neighbourhood where the land itself is a key asset.
Frequently Asked Questions
1. How does the lot size compare to nearby homes?
The 4,295 sqft lot is a standout feature, ranking larger than 95% of lots in the Booth neighbourhood, offering more private outdoor space than most surrounding properties.
2. What does "renovated basement" typically mean for a home of this era?
While specifics should be verified by a viewing and inspection, for a 1966 home this usually indicates updated finishes and likely addresses foundational concerns like moisture control or insulation, making the space comfortable and functional.
3. Is the detached garage a standard feature here?
In this neighbourhood and for homes from this period, a detached garage is common. It provides useful storage or workshop space, though it may require walking from the house in winter.
4. How does the last sale price compare to the current asking price?
The home sold for $260,000 in February 2021. Comparing this history with the current asking price is essential to understand the market's current valuation and the seller's pricing strategy.
5. The assessed value seems low. What does that indicate?
The assessed value is for municipal tax purposes and often lags behind market value. A significant gap between a recent sale price and the assessed value can suggest the market recognizes substantial value not captured in the assessment, but property taxes may be based on the lower figure until a reassessment occurs.