Property Overview: 1016 Radisson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1974 bi-level home at 1016 Radisson Avenue presents a practical and value-conscious opportunity in Winnipeg's Maybank neighbourhood. Its key feature is a renovated basement, adding valuable finished living space to the 873 sqft main floor. The property sits on a 4,200 sqft lot, which is above average for the street, and includes a detached garage.
The appeal lies in its balance of updates and potential. The renovated basement offers immediate utility, while the home's age and size suggest it could be well-suited for further personalization. It recently sold for $360k, a price point that reflects its move-in-ready condition with room for equity growth through updates. This property would suit first-time buyers seeking a solid starter home with some work already done, or an investor looking for a manageable rental property with a desirable feature (the basement suite potential) in a stable, established area.
A less obvious perspective is its relative modernity within its immediate context. Built in 1974, it is newer than 86% of the homes on its street, meaning major components like plumbing and electrical may be from a more recent era than many neighbouring houses. Additionally, while the living area is modest, its lot size ranking in the top third for the street offers valuable outdoor space or future expansion potential not available with every home in the area.
Section 2: Frequently Asked Questions
1. What does "renovated basement" typically include?
While specifics should be verified by a viewing and inspection, a renovated basement in a home of this era usually means it has been finished into a livable space with proper flooring, drywall, and ceiling. It may include a recreational room, additional bedrooms, or a bathroom. It's important to check for proper permits and moisture management.
2. How does the sold price compare to the assessed value?
The home sold for $360,000 in June 2024, which is significantly higher than its $36,800 assessed value. This is common, as municipal assessed values in Manitoba are for tax purposes and often lag behind current market values, which are determined by recent sales of comparable homes.
3. What are the implications of a detached garage?
A detached garage offers flexibility—it can be used for parking, storage, or as a workshop without concerns about fumes or noise entering the house. The trade-off is convenience, as you will need to go outside to access your vehicle, which can be a consideration during Winnipeg winters.
4. Is the Maybank neighbourhood a good area?
The data shows this property ranks in the top third of Maybank for lot size and in the top tier for the year it was built, suggesting it's a solid, established neighbourhood with a mix of older and somewhat newer homes. Its rankings for sold price are consistently in the middle to upper ranges for the area, indicating it is a typical and representative property for Maybank.
5. What might be the main considerations for a bi-level home?
Bi-level homes feature short flights of stairs to both the upper living area and lower level. This layout is efficient but means living spaces are split across two levels. It can be ideal for separating living and sleeping areas, but may not be suitable for those seeking single-level living. The renovated basement in this home likely makes the lower level a key part of the daily living space.