Property Overview: 75 Woodgreen Place
Key Characteristics & Appeal
This two-storey home, built in 1967, sits on a generous 7,203 sqft lot in Winnipeg's Booth neighbourhood. Its primary appeal lies in a combination of space, recent updates, and strong value indicators. The 1,750 sqft living area is complemented by a renovated basement, adding functional space, and an attached garage. The property's standout feature is its compelling financial trajectory: it last sold for $55.30k in October 2024, which is significantly above its current assessed value of $47.60k and a notable increase from its sale price of $43.50k just five months prior in May 2024. This suggests active buyer interest and potential value growth.
The home suits practical buyers looking for a solid, updated structure on a large lot without a premium price tag. Its rankings show it outperforms most of Winnipeg for living space and recent sale value, yet it sits in the middle of its immediate street for lot size, indicating a balanced, established setting. A thoughtful perspective is that this property represents a "value play" in its area—it offers the benefits of a renovated basement and ample outdoor space, while its assessed value remains in the lower tier for the neighbourhood, which could be appealing for future assessment-related calculations.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection or inquiry with the seller is recommended to determine the finish quality, permits, and intended use (e.g., additional living space, rental suite potential).
2. How does the recent sale price history affect this property's value?
The rapid increase in sale price from $43.50k to $55.30k within five months is a strong market signal. It typically indicates high demand for the property or the immediate area, but buyers should work with their agent to understand if this aligns with broader neighbourhood trends or is specific to this home.
3. Is the large lot a major advantage here?
At over 7,200 sqft, the lot size is above average for the street (top 51%) and offers excellent outdoor potential. However, it's worth considering that larger lots can entail higher maintenance and may have different utility costs than smaller properties in the same area.
4. The home is older; what should I be mindful of?
Built in 1967, the core structure is nearly 60 years old. While the basement has been renovated, potential buyers should pay special attention to the condition of major aging components during an inspection, such as the roof, plumbing, electrical systems, and foundation.
5. How does this property rank for investment potential?
The data shows a strong sold-price rank (top 11% in Winnipeg), suggesting it has recently attracted competitive offers. Its assessed value, however, remains in a lower percentile. This disconnect could present an opportunity, but it's essential to research if municipal assessments in the area are generally below market value or if this is an outlier.