Property Overview: 28 Code Street, Tyndall Park
Key Features & Ideal Buyer
This bi-level home at 28 Code Street is a practical and competitively positioned property in Winnipeg's Tyndall Park neighbourhood. Its key characteristic is a renovated basement, adding valuable finished living space to the 828 sqft main floor. The home sits on a decently sized lot (4,249 sqft) and includes a detached garage.
The primary appeal lies in its strong value proposition and recent transaction history. It sold very recently (December 2024) for $37,300k, which was a significant premium over its $32,500k assessed value and ranks in the top 2% of recent sales on its street. This suggests the market recognized upgrades or potential not fully reflected in the assessment. While the living area is modest compared to many in the area, the renovated basement helps offset this. The home is newer than most on its street (built 1983), and the lot size is above average for the immediate area.
This property would suit a first-time homebuyer or an investor looking for a turnkey, low-maintenance property with recent updates. It’s also a sensible choice for a buyer who values a renovated interior over a larger, unimproved footprint, and who is encouraged by a recent sale that indicates strong neighbourhood demand.
Frequently Asked Questions
1. Is the living space only 828 square feet?
Yes, the above-ground living area is 828 sqft, which is compact. However, this measurement does not include the renovated basement, which provides additional functional space.
2. Why did it sell for so much more than its assessed value?
The sale price likely reflects the value of the basement renovation and current market conditions. Assessments don't always capture recent improvements or the full market premium for move-in-ready homes.
3. What does the "renovated basement" include?
The listing notes it is renovated, but specific finishes and legal compliance should be verified by a buyer's inspection and by confirming with the listing agent for full details.
4. How does the detached garage impact the property?
A detached garage offers flexibility and can be ideal for a workshop or extra storage. Buyers should consider the convenience of accessing it in Winnipeg winters versus an attached structure.
5. The home sold very recently. Why is it back on the market?
This is a key question. The rapid resale could be due to many neutral factors (e.g., a buyer's financing fell through, a change in personal circumstances), but it warrants direct inquiry to the selling agent.