Property Overview
636 Buchanan Boulevard is a compact, one-storey home built in 1958, situated on a generous 6,049 sqft lot. Its key appeal lies in the combination of a renovated basement and a land size that is above average for Winnipeg, offering potential for expansion or outdoor enjoyment. The home itself is modest at 780 sqft of living space, indicating a focus on efficient living or a foundation for future updates. Its recent sale history shows a significant increase in market value over the past several years.
This property would suit first-time buyers or downsizers looking for an entry point into the Buchanan neighbourhood with a manageable footprint and a low-maintenance yard. It’s also a candidate for investors or renovators who see value in the substantial lot and the already-completed basement renovation, with an eye toward increasing the home’s overall square footage over time.
Frequently Asked Questions
1. How does the lot size compare to others?
The 6,049 sqft lot is larger than average for both the immediate street and the city of Winnipeg as a whole. This is one of the property's strongest assets, providing ample outdoor space uncommon for homes of this size.
2. The living area seems small. Is the layout efficient?
At 780 sqft, the above-ground living area is notably compact. The presence of a renovated basement is crucial, as it likely adds functional living or storage space to help offset the smaller main floor.
3. What does the sale history indicate about the property's value?
The home sold for $320,000 in July 2023, a substantial increase from its previous sales under $30,000. This suggests it has been significantly updated or that the land value has been realized in the market, though it remains below the city-wide average for assessed value.
4. Is the age of the home (1958) a concern?
While older than most on its street, the home's age is around the city-wide average. A key consideration will be the condition and age of major systems (roof, wiring, plumbing) and whether the renovations, particularly in the basement, were permitted and completed to code.
5. Who would this property not suit?
It may not fit growing families needing multiple bedrooms or dedicated spaces now, or buyers seeking a modern, move-in-ready home with ample above-ground square footage without undertaking further projects. The lack of a garage should also be considered.