Property Overview: 482 Penninghame Street, Winnipeg
Key Characteristics & Appeal
This 900 sqft bungalow, built in 1950, presents a solid and practical home in the Robertson neighbourhood. Its primary appeal lies in being a well-above-average property for its immediate street, offering a sense of relative value within a familiar local context. With a living area and assessed value ($249k) ranking in the top quarter on Penninghame Street, and a lot size (4,110 sqft) in the top 11%, it stands out as a more spacious and modern offering compared to its direct neighbours. This creates a desirable dynamic: you're acquiring one of the larger, newer homes on the block, which often translates to better curb appeal and interior flow than area averages might suggest.
The property suits first-time buyers or downsizers seeking a manageable, single-level home in an established community. It’s also a pragmatic choice for an investor looking for a stable rental property in a neighbourhood of consistent, older housing stock. A thoughtful perspective is that while the home's size is below the Winnipeg city average, its strong street-level rankings indicate it's a "big fish in a small pond"—a potential advantage for resale within the micro-market of the street itself. The 2016 sale price (estimated between $200k-$250k) suggests steady value retention relative to its current assessment.
Frequently Asked Questions
1. How does this home really compare to others nearby?
While its size is average for the broader Robertson area, it ranks significantly higher than direct neighbours on Penninghame Street in living space, lot size, and year built. This means it likely feels more spacious and updated compared to the houses right next door.
2. Is the assessed value a fair indicator of its market price?
The assessed value ($249k) is above the street average but below the neighbourhood and city averages. It serves as a baseline for property taxes, but market price is influenced by condition, updates, and current demand. A professional appraisal and market analysis are recommended.
3. What does the lot size mean for potential expansion or gardening?
At over 4,100 sqft, the lot is substantially larger than others on the street. This offers valuable outdoor space for gardening, recreation, or future additions like a garage or deck, subject to city zoning bylaws.
4. The home was built in 1950. What should I be aware of?
While newer than many on its street, a 1950s build may still have original plumbing, electrical, or insulation. A thorough home inspection is crucial to identify any needed updates, such as knob-and-tube wiring or galvanized pipes.
5. How can I find out the exact past sale prices?
The provided sold price data is an estimated range from public records. For fully verified and exact sale history, you must request a manual lookup from the website via email, as MLS data is not displayed here due to industry regulations.