Property Overview: 656 Adsum Drive, Winnipeg
Key Characteristics & Appeal
This 1,200 sqft bungalow, built in 1978, sits on a 3,212 sqft lot in the Mandalay West neighbourhood. Its primary appeal lies in its strong positioning within its immediate area. The home ranks in the top tier for living space on its street (top 4%), meaning it offers more room than most of its direct neighbours. It also features a lot size that is above the street average. This creates a value proposition of a relatively spacious home on a decent lot for the local context.
The assessed value of $290k is around average for the street but sits below the averages for both the wider neighbourhood and the city. This suggests the property may offer a more affordable entry point into the area. The home last sold between $300k-$350k in 2024.
This property would suit a first-time buyer or a downsizer looking for a well-sized, established home in a quiet neighbourhood without a premium price tag. It’s for someone who values space and lot size relative to nearby houses, rather than comparing to newer suburban developments. A thoughtful perspective is that this home represents the character of its specific street—it’s a standout in its own small pond, offering a sense of value and space within a mature community.
Frequently Asked Questions
1. How does this home really compare to others in the area?
While its size is impressive for Adsum Drive, it's important to note the home is below the neighbourhood and city averages for lot size and assessed value. This indicates you're getting a spacious interior for the street, but the property footprint is more typical of an older, established area.
2. What does the sold price history indicate?
The home sold in 2021 for an estimated $250k-$300k and again in 2024 for $300k-$350k. This shows solid appreciation over a three-year period, reflecting steady market demand for the property.
3. Who are the typical neighbours?
The nearly identical assessed values and similar year-built for nearby homes (like 652 Adsum Drive) suggest a neighbourhood of comparable, well-maintained properties from the same era. This often indicates stability and consistent upkeep.
4. Is the assessed value a reliable indicator of the listing price?
Not directly. The $290k assessment is for municipal tax purposes. The 2024 sale in the $300k-$350k range is a more current market benchmark, suggesting the home may list above its assessed value.
5. What are the less obvious trade-offs?
The home ranks highly on its own street, which is a plus for resale within the micro-area. However, its rankings drop when compared to the broader neighbourhood and city, particularly for lot size. This means you gain interior space but have a more compact yard compared to many other Winnipeg homes.