Property Overview: 10 Russenholt Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a solid opportunity, particularly for its land value and efficient layout. Built in 1973, the house itself is newer than most on its street and in the wider neighbourhood, suggesting potentially fewer immediate concerns with aging infrastructure. The 1,262 sqft living area is notably above average for both the immediate area and Buchanan, offering more interior space than many comparable homes.
The primary appeal lies in its balanced profile. The nearly 5,000 sqft lot provides ample outdoor space in a city where lot size can vary greatly, while the renovated basement adds valuable finished living area. The detached garage offers flexibility. Its assessed value consistently ranks above average for its direct vicinity, indicating a strong foundation of perceived value in its micro-market.
This property would suit practical buyers looking for a move-in-ready base with room to grow outdoors, or investors seeking a property with strong fundamentals in a stable neighbourhood. It’s a compelling option for those who prioritize more house and lot for their investment over a brand-new build, and who see value in a home that stands out positively against its closest neighbours.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
At 4,998 sqft, the lot is very close to the average for Russenholt Street itself. It provides a generous backyard space that is manageable for gardening or recreation without being overly burdensome to maintain.
2. What does "above average" assessed value on the street mean?
The home’s assessed value ranks 4th highest out of 28 on Russenholt Street. This suggests that, according to municipal assessment, it is one of the more valuable properties on its own block, which can be a positive indicator for resale and equity.
3. Is the living space efficiently arranged?
With 1,262 sqft above grade in a one-storey design, the floor plan is likely more spread out than a two-storey home with the same square footage. This can be ideal for single-level living, but it’s wise to view the layout to see if it meets your needs for room sizes and flow.
4. The home sold in 2020 for $30.5k—is that relevant?
That sale price is significantly lower than the current assessed value of $38.1k. This large difference likely indicates a prior sale that was not an arms-length market transaction (such as between family members). The current assessed value is the more relevant figure for today’s market context.
5. How does the age of the home compare?
Built in 1973, this home is actually the newest on Russenholt Street. For the wider Buchanan area and Winnipeg overall, it’s around or slightly above the average build year. This relative newness for the immediate area could mean updates and systems are more recent than those of neighbouring houses.