Property Overview & Key Characteristics
This 1966 bi-level home at 772 School Road in Winnipeg's Sturgeon Creek neighbourhood sits on a large, approximately 5,936 sqft lot. Its key appeal lies in a combination of space, recent investment, and strong value positioning within its area. The home features 1,078 sqft of living space and a renovated basement, adding functional living area. A detached garage provides flexible storage or workshop space.
The home’s standout feature is its compelling value story. It sold in January 2024 for $400,000, a price that ranks in the top 13% for recent sales on its street and the top 9% within the Sturgeon Creek neighbourhood, indicating buyers saw premium value. Yet, its assessed value for taxation purposes is notably lower at $36,500, which may suggest a favourable tax position relative to its market price. The lot size is also a significant asset, ranking in the top 22% of the neighbourhood.
This property would suit practical buyers looking for a solid, move-in-ready home with a large yard in a mature community. It’s ideal for first-time homeowners seeking space to grow, or for downsizers who want a manageable bi-level layout with a modernized basement for family visits or hobbies. The strong recent sale price compared to neighbours indicates it appeals to those who prioritize immediate livability over a renovation project.
Frequently Asked Questions
1. What does the "renovated basement" typically include in a home of this era?
In a 1960s bi-level, a renovated basement often means the lower level has been finished into proper living space, potentially including a family room, additional bedroom, or modernized laundry/utility area. It's advisable to confirm the scope, permits, and quality of finishes.
2. The sold price is much higher than the assessed value. What does this mean?
Assessed value is for municipal tax purposes and often lags behind the current market. The significant difference here suggests the market valued the home's condition, renovations, and lot very highly. This can be a positive, but it's wise to budget for potential future tax reassessments.
3. Who might the detached garage be most useful for?
Beyond vehicle storage, it’s ideal for hobbyists, gardeners needing tool storage, or families with bicycles and seasonal gear. It also offers flexibility that an attached garage doesn’t, such as a potential workshop space without concerns about noise or fumes entering the house.
4. The home is older. What major systems should I investigate?
While the basement is renovated, the core systems from the 1960s may need attention. A thorough inspection should focus on the roof, original plumbing and electrical, foundation, and heating system to anticipate any major upcoming maintenance.
5. How does the lot size compare practically?
At nearly 6,000 sqft, the lot is significantly larger than many in Winnipeg. This provides ample private outdoor space for children, pets, or gardening. It also offers a greater sense of separation from neighbours and future potential for additions, subject to zoning.