Property Overview: 882 Lanark Street, Winnipeg
Key Characteristics & Appeal
This home at 882 Lanark Street in the Mathers neighbourhood presents a compelling blend of space, value, and relative modernity for its area. Built in 1964, it stands out as a newer construction compared to most homes on its street and in Mathers, ranking in the top 4% and 2% respectively for year built. This suggests potentially fewer concerns with aging infrastructure common in older housing stock. With 1,287 sqft of living area, it offers above-average space for the Mathers neighbourhood and sits around the city-wide average, providing ample room for a small family or those wanting extra space.
The assessed value of $44,800 is consistently above average for its immediate context—ranking in the top 30% on Lanark Street, in Mathers, and city-wide. This indicates recognized value by municipal assessment, often a positive sign for equity. The lot size of 5,276 sqft is typical for the area, offering standard outdoor space without excessive maintenance.
Its appeal lies in this balance: it’s a relatively modern home in an established neighbourhood, with a solid amount of living space and a strong assessed value position. It would suit practical buyers looking for a move-in-ready footprint in a mature community, first-time homeowners seeking a property with good fundamentals, or investors interested in a stable asset with metrics that outperform many local comparables.
Frequently Asked Questions
1. What does the "above average" assessed value ranking mean?
It means the municipal property assessment for this home is higher than most comparable properties on its street, in the Mathers neighbourhood, and across Winnipeg. This can reflect the home's condition, size, and the 1964 build year compared to older neighbours, but it's not a direct market valuation.
2. How does the 1964 build year compare to nearby homes?
This home is significantly newer than many in its immediate vicinity. The average build year for comparable homes on Lanark Street is 1946, and in Mathers it's 1958. This 15-20 year difference can be an advantage in terms of building materials, layout, and systems.
3. What was the last known sale price?
Public data indicates a sale between CA$350,000 and CA$400,000 in 2017. For the exact sale price, you can request the information via email from the listing source.
4. Is the living space large for the area?
At 1,287 sqft, it is above the Mathers neighbourhood average (~1,216 sqft) and very close to the average for Lanark Street itself (~1,277 sqft). It provides a comfortable amount of space without being an outlier.
5. What are the most similar nearby properties?
The most directly comparable properties are its neighbours on Lanark Street (e.g., 886, 878 Lanark). For homes with a similar assessed value, examples include properties on Chalfont Road in Elmhurst and Woodchester Bay, though these are in different neighbourhoods.