Property Overview
761 Adsum Drive is a well-maintained 820 sqft bungalow built in 1980, situated on a 3,191 sqft lot in Winnipeg's Mandalay West neighbourhood. Its key appeal lies in its position as a competitively priced, lower-maintenance entry point into the housing market. The home's assessed value of $250k is notably lower than both the city-wide average and most homes on its own street, suggesting a potentially accessible price point. While its living space is modest compared to area averages, the lot size is above average for Adsum Drive itself. It last sold between $200k-$250k in 2021.
This property would suit first-time buyers or downsizers seeking an affordable, single-level living option in a mature neighbourhood. Its value proposition is straightforward: it offers ownership in a stable area without the premium price tag of larger or newer homes, making it a practical choice for budget-conscious buyers comfortable with a smaller footprint.
Frequently Asked Questions
1. Is this a good value for the area?
The data suggests it is priced below typical benchmarks. Its assessed value ranks in the top 3% lowest on its street and is significantly below city-wide averages, indicating it could be one of the more affordable options in Mandalay West.
2. What are the less obvious pros and cons of a home like this?
A less obvious advantage is the 1980 build year, which is newer than many homes on the street, potentially meaning updates to major systems. A consideration is that while the lot is a good size for the street, it is smaller than most in the wider neighbourhood, which could limit expansion possibilities.
3. Who would this property not be a good fit for?
It likely wouldn't suit buyers who need multiple bedrooms, dedicated home office space, or who prioritize a large yard for recreation. The living area is compact, so those with growing families or who entertain frequently may find it limiting.
4. How does the sold price history help?
The 2021 sale price range gives a recent market benchmark. Understanding how the current asking or assessed value compares to that last sale can provide insight into market trends and the property's potential appreciation.
5. What should I look into next?
The next steps would be to verify the exact 2021 sale price, investigate the condition of the roof, windows, and major mechanical systems (typical for a home of this age), and review the neighbourhood analysis map to understand the mix of homes directly surrounding the property.