Property Overview: 540 Harrow Street, Winnipeg
Key Characteristics & Appeal
This two-storey home in Grant Park stands out for its modern foundation and above-average investment profile. Built in 2019, it is a notably newer construction compared to most homes in the area, offering contemporary building standards and minimal immediate maintenance concerns. With 1,935 sqft of living space, it provides ample room, ranking well above the city average. Its appeal is anchored in a premium assessed value that places it in the top tier (top 1-4%) for both the neighbourhood and the wider city, suggesting strong perceived value and desirability.
The home suits buyers seeking a modern, move-in-ready property in an established neighbourhood without the uncertainties of an older home. It’s ideal for professionals or small families who value space and newer amenities, including a renovated basement. A thoughtful perspective: while the lot size is smaller than area averages, this often translates to less yard upkeep—a potential benefit for those preferring low-maintenance living without sacrificing interior space. The property represents a balance of modern comfort in a mature community, likely appealing to those who want character outside their door but contemporary finishes inside.
Frequently Asked Questions
1. How does the property’s value compare to recent sales?
The assessed value is significantly above average for Grant Park and citywide. The last known sale was in June 2019, so current market value should be verified with a recent comparative market analysis.
2. What are the implications of having a smaller lot size?
The land area is below average for the street and neighbourhood. This typically means a smaller yard, which reduces maintenance but may limit expansion potential or private outdoor space compared to neighbouring properties.
3. Is there a garage or additional parking?
The listing specifies no garage. Buyers should inquire about driveway space or on-street parking permits to understand full parking arrangements.
4. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. It’s important to ask about the finish quality, ceiling height, permits, and whether it includes a separate entrance or legal suite potential.
5. Why is the assessed value so high relative to the 2019 sale price?
The sharp increase from its 2019 sale price to its current elite assessment tier likely reflects Winnipeg’s market appreciation, the premium for a newer home in an older area, and the value added by the basement renovation. This indicates strong equity growth but also means property taxes will be based on this higher assessment.