Property Overview: 520 Stewart Street, Winnipeg
Key Characteristics & Appeal
This single-storey home in Glendale is a solid, well-positioned property with a practical layout. Its 1,125 sqft of living space sits on a generous 6,002 sqft lot, offering more room than many homes on its street. A key feature is the renovated basement, adding functional living space. The detached garage provides flexible storage or workshop potential.
The appeal lies in its strong fundamentals within the local context. The home's assessed value ranks notably high for Stewart Street and the Glendale area, suggesting it is viewed favorably relative to its immediate peers. While a 1969 build, it is newer than many in the neighbourhood. This combination—a renovated basement, above-average lot size, and a strong value position on its street—points to a home that has been maintained and offers good utility.
It would suit practical buyers looking for a move-in-ready base in a mature neighbourhood, particularly first-time homeowners or downsizers seeking single-level living without sacrificing yard space. The data suggests it’s a property that outperforms its direct competition on paper, appealing to those who value stability and established community character over new construction.
Frequently Asked Questions
1. How recent are the basement renovations, and what do they include?
The listing confirms the basement is renovated, but specifics on the scope and date of the work are not provided. This would be a key detail to request from the seller or listing agent to understand the quality and current condition of the updates.
2. The sold price history shows two recent sales close together. What explains this?
The property sold in June 2024 and again in October 2024. This pattern could indicate a quick resale by an investor or flipper, a deal that fell through and relisted, or a change in the buyer's circumstances. Reviewing the exact price changes and asking about the context is advisable.
3. How does the "above average" assessed value impact property taxes?
A higher assessed value relative to neighbouring homes typically results in a higher property tax bill. While it indicates municipal valuation strength, buyers should factor the actual tax amount into their monthly carrying costs.
4. What is the condition of the detached garage?
The listing notes a detached garage but does not specify its size, construction, or state of repair. Given the age of the property, assessing the garage's structure, roof, and functionality is recommended.
5. Why is there a discrepancy between the assessed value ($36k) and the city-wide average ($390k) mentioned?
This large difference is likely due to how the data is grouped. The $390k city-wide average probably includes all home types and areas across Winnipeg. The much lower assessed value figures for Stewart Street and Glendale reflect the specific market and valuation norms for this neighbourhood and property type, offering a more relevant comparison.