Property Overview: 131 Collegiate Street, Bruce Park, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Bruce Park home is defined by its generous, above-average lot and its efficient, renovated footprint. Built in 1945, the one-storey house features a renovated basement and a detached garage. The primary appeal lies in the land itself—at over 5,400 sq ft, the property offers significant outdoor space that is a rarity for the street, ranking in the top 6% locally. This creates immediate value for expansion, gardening, or outdoor living. The home’s living area (816 sq ft) is compact, suggesting a focus on low-maintenance, efficient living without sacrificing the feel of a substantial property.
It would suit a first-time buyer or downsizer seeking an established neighbourhood with room to grow, either outdoors or through potential future renovations. The recent basement update adds modern livability. A thoughtful perspective is that this property represents a "land-forward" opportunity; you're acquiring a premium-sized lot in a mature area with a functional, renovated home included. It’s for a buyer who values space and potential over sheer square footage indoors.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 816 sq ft, the living area is below the neighbourhood average. However, the renovated basement effectively expands usable space, making it ideal for those seeking a cozy, efficient layout without the upkeep of a larger home.
2. What does the "Top 6%" ranking for land area mean?
It means this property's lot size is larger than 94% of comparable lots on Collegiate Street. You are getting significantly more outdoor space than is typical for this specific location.
3. How does the assessed value relate to the recent sale price?
The home sold for $300,000 in August 2023. The much lower assessed value ($29,700) is for taxation purposes and is not a reflection of current market value. The sale price is the relevant market indicator.
4. What is the neighbourhood like?
Bruce Park is an established, mature neighbourhood in Winnipeg. The data shows homes here typically have larger lots and are of a similar vintage, suggesting a stable, character-filled area.
5. Are homes on this street similar?
The data indicates variety. While lot sizes on the street average around 3,700 sq ft, this property's lot is notably larger. Home sizes and ages are generally comparable, offering a consistent streetscape with this property standing out for its land.