492 Stewart Street

Property Overview: 492 Stewart Street, Winnipeg

Key Characteristics & Appeal

This one-storey home in Glendale is defined by a substantial, above-average lot of over 7,200 square feet, offering significant outdoor space that is rare for the area. The house itself, built in 1959, is modest in size at just over 1,000 square feet of living space but features a renovated basement. Its recent sale price and assessed value are notably accessible, positioning it well below city-wide averages for cost.

The primary appeal lies in this combination of a large, private yard with a home that has seen key updates, presenting a clear value proposition. It suits first-time buyers or practical downsizers looking for an entry into the market without sacrificing outdoor potential. It’s also a fit for those with a longer-term vision, as the generous lot provides room for expansion, gardening, or simply more privacy than typical neighbourhood offerings. A thoughtful perspective is that while the home’s living area is compact, the renovated basement effectively adds functional space, making the overall package more versatile than the main floor square footage alone suggests.

Frequently Asked Questions

1. Is the large lot a benefit for future expansion?
Yes. The lot size is in the top 15% city-wide, providing uncommon space that could allow for a future addition, a large garage/workshop, or simply extensive landscaping, subject to local zoning and permits.

2. How does the assessed value relate to the recent sale price?
The assessed value is significantly lower than the recent sale price, which is common. The sale price reflects the current market, while the assessed value is used for property tax calculation and often lags behind market shifts.

3. What does "renovated basement" typically include in a home of this era?
While specifics would require a viewing, in a 1959 home this usually means updated finishes, improved lighting, and possibly added moisture control. It often creates a functional living, recreational, or utility space that adds to the home’s usable area.

4. The home is older than many on the street. Should I be concerned?
The build year (1959) is below the local average. This necessitates a focus on the condition of major aging components like the roof, foundation, and plumbing during an inspection, but many homes of this era were built with durable materials and are solidly constructed.

5. Who maintains the detached garage, and what is its condition?
The garage is a separate structure on the property, so maintenance is the responsibility of the homeowner. Its condition, size, and potential for upgrades or repairs should be evaluated separately during a viewing.