854 Lanark Street

Property Overview & Appeal

This home at 854 Lanark Street in Winnipeg's Mathers neighbourhood presents a compelling mix of space, value, and established character. Its key appeal lies in its above-average proportions and a standout assessed value. With 1,392 sqft of living space and a 6,596 sqft lot, it offers more room than most comparable homes on its street, in Mathers, and citywide. Notably, its assessed value of $60.70k ranks in the top 5% on Lanark Street and top 3% in the Mathers area, suggesting a very strong municipal valuation relative to its peers—a key indicator for potential equity and desirability.

Built in 1958, the home is newer than many in its immediate vicinity, which may imply updated infrastructure or less immediate need for major repairs. The property last sold in the $500k-$550k range in 2017. It would suit buyers looking for a spacious, well-situated home in an established neighbourhood, particularly those who appreciate a property that stands out statistically for its lot size and official valuation. It’s a solid choice for someone seeking a home with a proven history of value retention and the space for family living or future expansion.

Frequently Asked Questions

1. What does the exceptionally high assessed value ranking mean?
Ranking in the top 3-5% for assessed value in both the street and neighbourhood contexts indicates the city’s assessment places this property significantly higher than most comparable homes. This often reflects desirable attributes like location, lot size, and improvements, and can be a positive signal for underlying value, though property taxes will be based on this figure.

2. How does the 2017 sale price relate to today’s value?
The home sold for an estimated $500k-$550k in 2017. This provides a historical benchmark, but current market conditions, changes to the property, and broader economic factors will determine its present market value. This data point is useful for understanding past market activity in the area.

3. Is a 1958-built home likely to have major issues?
While newer than many homes in Mathers, a 68-year-old home will still require diligent inspection. Key systems like plumbing, electrical, roofing, and the foundation should be professionally evaluated. Its newer age relative to the neighbourhood average is a positive, but condition depends entirely on maintenance and updates over the decades.

4. What is the significance of the above-average living and land area?
With both metrics consistently above local and city averages, this property offers more interior space and a larger yard than many alternatives. This is a primary appeal for buyers needing room to grow, enjoy outdoor space, or who simply prioritize a sense of scale and privacy that can be harder to find in older neighbourhoods.

5. How can I find out the exact historical sold prices?
The exact sold prices are not publicly displayed in detail. The listing service offers to provide this information manually via email upon request, with a commitment to reply by the end of the same day without using your email for unsolicited marketing.