Property Overview: 405 Southall Drive, Winnipeg
Key Characteristics & Appeal
This home on Southall Drive in Margaret Park stands out for its generous proportions, both in the house itself and the land it sits on. With 1,570 sqft of living space, it is significantly larger than most comparable homes in its immediate neighborhood and across the city. The lot size of over 10,000 sqft is a particularly rare asset, placing it in the top tier of properties locally. Built in 1964, the home is of a mature vintage, which often suggests established landscaping and a well-integrated location within the community. Recent sale history indicates strong and steady market value growth.
Its primary appeal lies in offering substantial space and a large, private yard in a settled area—a combination that is increasingly difficult to find. This property would best suit buyers who prioritize indoor and outdoor room over a brand-new build. It’s ideal for families seeking space to grow, or for anyone valuing the potential of a large lot for gardens, recreation, or future expansion. A thoughtful perspective is that while the home itself is older, its standout lot size and living area provide a timeless foundation that is often more valuable and harder to change than interior finishes.
Frequently Asked Questions
1. What does the "Elite" ranking for lot size actually mean?
It means this property's land area of 10,048 sqft is larger than approximately 97% of lots on its street and 99% of lots in the broader Margaret Park area, making it a truly exceptional parcel in the local context.
2. The home was built in 1964. Should I be concerned about major updates?
While the year built indicates a mature home, the consistent and above-average assessed value suggests it has been maintained as a solid asset. A key consideration for a buyer would be to verify the condition and age of major systems like roof, windows, plumbing, and electrical, which are typical focal points for homes of this era.
3. The sold price history shows a range. What is the exact last sold price?
The public data shows the home sold for between $400,000 and $450,000 in 2024. The listing service offers to provide the exact sold price via email upon request, as this precise figure is not part of the public record.
4. How does the assessed value relate to the market price?
The assessed value of $40.30k is for municipal tax purposes and is not a direct indicator of market value. The recent sold price range of $400k-$450k is the true reflection of its market value. The two figures use completely different valuation systems and scales.
5. The living area is large for the area, but how does the layout function?
The data confirms generous square footage, but the flow and room configuration of a 1960s layout may differ from modern open-concept designs. This underscores the importance of a viewing to see if the space is arranged in a way that suits your lifestyle, as the total area alone doesn't tell the whole story.