Property Overview: 55 Scarfe Street, Winnipeg
Key Characteristics & Appeal
This 1,220 sqft home, built in 1984, presents a solid, middle-ground opportunity in the Mandalay West neighbourhood. Its primary appeal lies in its generous 6,564 sqft lot, which is notably larger than most on its street and in the wider area, offering valuable outdoor space and potential. While the living space is average for the locale, the property carries an assessed value that is strong for its immediate street, suggesting it is viewed favorably relative to its closest neighbours.
The home suits practical buyers looking for a established property in a mature neighbourhood without the premium for a brand-new build. It’s a match for someone who values a larger yard for gardening, children, or future expansion more than having above-average interior square footage. The data indicates a balanced profile—it’s not an outlier in most categories but stands out for its land size, making it ideal for a buyer whose vision extends beyond the home's walls.
Frequently Asked Questions
1. How does this property really compare to others nearby?
The home is most distinctive for its lot size, ranking in the top 7% on its street. Its assessed value is also above average for the street, though it aligns more closely with the neighbourhood and city averages. The living area and year built are consistently average for the immediate area.
2. What is the likely price range based on recent sales?
A nearby, somewhat larger home at 66 Baker Bay sold between $400,000 and $450,000 in 2021. While not a direct comparison, this provides a historical benchmark. The exact sold price for 55 Scarfe Street itself is available upon request.
3. What does the assessed value tell me?
The assessed value of $41,100k is a municipal valuation for tax purposes, not a market price. That it ranks highly on its street suggests the city views the property's attributes favorably compared to its direct neighbours, which can be a positive data point.
4. Is a 1984-built home a concern?
Built 42 years ago, the home is average in age for Mandalay West. This typically means major systems may have been updated or could be nearing their service life, so a thorough inspection is advised. Notably, it is newer than the average Winnipeg home.
5. Who would this property not suit?
Buyers seeking a move-in-ready home with modern, open-concept layouts or those prioritizing maximum interior square footage over yard space might find better options. It’s best for those who see potential in the land and are comfortable with a home of average size from the 1980s.