Property Overview: 831 Lanark Street, Winnipeg
Key Characteristics & Appeal
This home on Lanark Street in the Mathers neighborhood stands out for its above-average scale and value. Built in 1958, the property is distinguished by its generous 2,176 sqft of living space, which ranks within the top 4% on its street and top 2% in Mathers. It sits on a large 7,046 sqft lot, providing ample outdoor space that is well above the local average. The home’s assessed value of $65,600 places it in the elite tier for the area, suggesting a property that has been well-maintained or upgraded relative to its peers.
The appeal lies in the combination of substantial interior space and a sizable lot in an established neighborhood. It suits buyers looking for a home with room to grow, entertain, or simply enjoy more spacious living without moving to the city's newer suburbs. It would particularly fit families or multi-generational households needing multiple bedrooms, or individuals who value larger gardens and outdoor privacy. A less obvious perspective is its potential for buyers who appreciate established neighborhoods with mature landscaping but want a home that already offers the square footage of a major addition or a newer build, possibly avoiding the hassle and cost of renovations.
Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
The assessed value is for municipal tax purposes and is typically lower than market value. The home last sold between $600k-$650k in 2020, which is a more current indicator of its market worth, though prices have fluctuated since.
2. What does the "elite" ranking for assessed value mean?
It means this home's official assessed value is higher than 95-98% of comparable properties in the wider city and even higher within its immediate area. This often reflects factors like larger size, better condition, or desirable improvements compared to neighboring homes.
3. Is a 1958-built home a concern?
While not new, the year built is actually newer than many homes on Lanark Street and in Mathers, where averages are 1946 and 1958 respectively. This suggests the home may have more modern construction elements than some neighbors, but a thorough inspection is always recommended to understand the condition of the roof, wiring, plumbing, and foundation.
4. How does the lot size benefit a buyer?
At over 7,000 sqft, the lot is significantly larger than the area average. This allows for greater privacy, potential for additions like a garage or shed, expansive gardens, or recreational space like a large patio or play area.
5. How can I find out the exact past sold prices?
The provider offers to manually share the exact sold price history via email upon request, as the public records only show ranges. This can give you precise data for understanding past market value.