Property Overview: 3 Russenholt Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated bungalow in the Buchanan neighbourhood presents a practical opportunity with specific appeal. Its key characteristic is a generous, above-average lot size of nearly 6,000 sq ft, placing it in the top 7% for land area on its street. This offers valuable outdoor space and potential. The home itself is a modest 988 sq ft one-storey layout with a renovated basement and a detached garage, built in 1973. The recent sale history and assessed value indicate a property positioned as an accessible entry point into the market.
Its primary appeal lies in its land value and functional basics. It suits buyers looking for a solid foundation—perhaps first-time homeowners comfortable with a smaller living footprint who prioritize a large yard for gardening, pets, or future expansion. It could also attract investors or renovators who see the underlying value in the lot and the already-updated basement, viewing the existing structure as a canvas for modernization or an income suite potential. A less obvious perspective is that for downsizers or those seeking single-level living, the bungalow style combined with a low-maintenance lot (relative to its size) offers ease without sacrificing private outdoor space.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the lower assessed value impact property taxes?
A lower assessed value relative to some city averages can be an advantage, typically resulting in proportionally lower municipal property taxes, which is a key ongoing cost consideration.
3. What does the lot size mean for future plans?
The lot is significantly larger than many in the immediate area. This provides flexibility for additions, a large garden, or storage sheds, but any structural changes would require checking setback rules and obtaining proper permits.
4. The home sold recently in 2020. What does that indicate?
The sale in 2020 suggests a relatively short ownership period. It’s wise to inquire about the seller’s reason for moving to understand any context not captured in the data.
5. How does the living area compare for daily life?
At 988 sq ft above grade, the living space is compact. Prospective buyers should consider if the renovated basement adequately provides the necessary additional space for storage, recreation, or guests to make the overall layout comfortable for their needs.