Property Overview: 318 Southall Drive, Margaret Park, Winnipeg
Key Characteristics & Appeal
This home at 318 Southall Drive is a standout property within its immediate neighbourhood of Margaret Park. Built in 1967, it offers 1,278 sqft of living space, which is notably above average for both its street and local area. Its most significant characteristic is its assessed value of $37.60k, which ranks in the top 5% on Southall Drive and the top 6% in Margaret Park, indicating it is a highly valued asset compared to its peers.
The appeal lies in its strong positional value. While its lot size is average for the area, the home itself is larger and more valuable than most surrounding properties. This suggests a well-maintained or updated home in a stable, established neighbourhood. It would particularly suit value-conscious buyers looking for a home with proven appreciation, as evidenced by its sale price increase from the $250k-$300k range in 2019 to $350k-$400k in 2023. It’s ideal for buyers who prioritize a home that outperforms its immediate neighbours in terms of space and municipal assessment, offering a sense of solidity and a strong foundation for future equity.
Frequently Asked Questions
1. What does the high assessed value ranking actually mean?
It means the city’s property assessment for this home is among the highest on its street and in the Margaret Park area. This typically reflects a combination of the home’s size, condition, improvements, and desirability relative to nearby houses, not just a high tax bill.
2. The home sold recently in 2023. Why is it likely back on the market?
The provided data shows sales in 2019 and 2023. The current listing is not necessarily a quick "flip"; the 2023 sale could have been a private transfer or the current owners may have had a genuine change in circumstance. Reviewing the exact price history (available by request) would provide clearer context.
3. Is the lot size a disadvantage?
At 5,494 sqft, the lot is average for Margaret Park. While not oversized, it is consistent with the neighbourhood and allows for standard yard space. The value here is invested more in the living space of the home itself.
4. How does this home compare to the Winnipeg average?
City-wide, this home is around average in most metrics, including size and assessed value. This highlights that its standout qualities are hyper-local. You’re buying a top-tier home for Margaret Park, which may offer different value than a similarly priced home in a different city district.
5. How can I verify the exact past sale prices?
The exact sold prices are not published publicly here. As noted on the detail page, you can request the precise history via email from the service, which compiles this data manually from non-public sources.