Property Overview
This one-and-a-half storey home, built in 1946, sits on a generous 6,863 sqft lot in Bruce Park. Its key appeal lies in the balance of a renovated basement and a lot size that is notably above average for both the neighbourhood and the city, offering room to breathe and potential for outdoor projects. With a modest living area of 1,316 sqft and a low assessed value, it presents as an affordable entry point into the market. The home suits first-time buyers or practical investors looking for a solid foundation in a mature neighbourhood, where value is derived more from land potential and location than from the size or modernity of the existing structure. It’s a property for those who see opportunity in what lies beneath and beyond the house itself.
Key Details & FAQs
Key Characteristics:
- Type & Lot: A one-and-a-half storey home on a large, 6,863 sqft lot that is well above average for Winnipeg.
- Condition: Features a renovated basement, suggesting some updates have been made.
- Size & Value: The living space is average for the area, but the home carries a significantly below-average assessed value compared to its immediate street and wider neighbourhood.
- Appeal & Buyer Fit: The primary draws are the substantial lot size and the recent sale price, which was notably reasonable. This property is ideal for buyers prioritizing land over square footage, or for those seeking a lower-cost project home where sweat equity can build value. It may also appeal to buyers who find charm in post-war character and are comfortable with a home from the 1940s.
Frequently Asked Questions:
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on municipal evaluation formulas, which consider factors like the home's age, size, and recent sales. Its ranking in the bottom tiers for assessed value on its street and in Bruce Park indicates it is viewed as a more modest property compared to its peers, which often translates to lower property taxes.
2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with living areas and a second floor under sloping roof lines, often creating cozy bedrooms with unique ceiling angles. It's a classic design for homes of this era.
3. Is the large lot usable, or is it an odd shape?
While the listing confirms the square footage, reviewing a lot survey or satellite image is recommended to understand the exact layout, potential for gardening, expansion, or adding a garage in the future.
4. The home sold recently. What does that mean for me?
The property sold in July 2024. This information is useful for understanding the very current market value and price trends for this specific street and for homes with similar characteristics in Bruce Park.
5. What are the implications of no garage?
Buyers should factor in the cost and feasibility of adding a parking structure if desired, or be comfortable with street parking. The large lot does provide space for this potential future addition.