Property Overview: 11 Russenholt Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a compelling opportunity centered on its land and location. Built in 1973, its standout feature is the 5,683 sqft lot, which ranks in the top 25% for size on its own street. The detached garage and renovated basement add practical value. While the living space is a comfortable 988 sqft, the appeal here leans less on the size of the house and more on the potential of the property itself.
Its primary draw is for the value-conscious buyer or investor who prioritizes land over a large footprint. The above-average assessed value for the street and neighbourhood suggests a solid foundation. This property would suit a first-time buyer looking for a manageable home with room to grow outdoors, a downsizer seeking a single-level layout with a generous yard, or an investor attracted by the renovated basement and the lot’s inherent value in a stable area.
A less obvious perspective is the home’s age ranking. Being one of the newer homes on its street (top 4%) can mean fewer immediate concerns about outdated major systems compared to older neighbours, a subtle but meaningful advantage.
Section 2: Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. At 5,683 sqft, the lot is significantly larger than the average for both the immediate street and the Buchanan area. This provides more private outdoor space and future flexibility.
2. How does the living area compare to typical homes?
The 988 sqft living area is fairly average for the local neighbourhood but is below the wider Winnipeg average. It indicates a cozy, efficient layout rather than a spacious one.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key detail to clarify with the seller or agent to understand the added living or utility space.
4. Why is the assessed value different from the recent sale price?
The property was assessed at $36,300 but sold for $43,500 in December 2023. A sale price above the assessed value is common and reflects what a buyer was willing to pay in the open market, often influenced by factors like the renovated basement, lot size, and market conditions at the time.
5. How does the year built affect this home?
Built in 1973, the home is newer than most on its street. This generally suggests construction methods and materials that are more modern than much older homes, though any property of this age will still require a thorough inspection of its roof, wiring, and plumbing.