Property Overview: 156 Parkview Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Bruce Park is defined by its generous lot and solid, vintage character. Built in 1923, it sits on a 5,423 sqft property, a lot size that ranks well above average for its street. The living space of 1,404 sqft is notably spacious compared to immediate neighbours. Key features include a detached garage and a basement that is present but not renovated. There is no pool.
The primary appeal lies in its land value and the potential inherent in a classic, unrenovated property. The above-average lot size for the area offers privacy, room for gardens, or future expansion. The home itself, with its assessed value positioned below neighbourhood and city averages, presents an opportunity for buyers interested in adding value through updates tailored to their own tastes. It would suit a practical buyer or investor who values space over turn-key condition—someone comfortable with a project, whether now or down the line, and who sees the long-term value in a larger parcel of land in a mature neighbourhood. It's a property where the investment is as much in the ground as it is in the house.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, but not modernized. Buyers should anticipate a space that may require work for finished living areas and budget for inspections to understand the state of foundational elements, plumbing, and electrical.
2. How significant is the lot size compared to the area?
Very. The land is over 1,500 sqft larger than the average lot on Parkview Street itself. This is a standout feature, offering more outdoor space than most direct comparables.
3. The assessed value seems low. Does that indicate a problem?
Not necessarily. Assessed value for municipal taxes often lags behind market value and can be lower for older, unupdated homes. The recent sale price from July 2024 ($30,400) is a more current indicator of its market value.
4. What are the considerations with a home built in 1923?
Charm and solid construction are balanced with the need for vigilance. Prospective buyers should prioritize inspections for aging infrastructure, such as the roof, wiring, plumbing, and insulation, to understand upcoming maintenance or necessary upgrades.
5. Who is the typical buyer in this price and condition range?
It often attracts first-time buyers or practical downsizers seeking entry into a neighbourhood at a lower price point, with plans to renovate over time. It can also interest investors looking for a property with strong land value and rental potential, possibly as a multi-unit conversion (subject to zoning).