Property Summary: 112-3907 Grant Avenue, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a compact, 905 sqft home built in 1978, situated in Winnipeg's established Varsity View neighborhood. Its primary appeal lies in its exceptional location and proven investment trajectory. The property ranks in the top tier for its lot size within the neighborhood and city, suggesting a desirable parcel of land. While the home itself is modest in size and age, its recent sales history shows consistent value growth, rising from $150,000 in 2017 to $160,000 in 2022, with a current assessed value of $178,000. The absence of a basement or garage presents a straightforward, low-maintenance footprint.
This home would suit first-time buyers seeking an entry point into a prime academic-area community, or investors looking for a manageable rental property in a high-demand location near the University of Manitoba. Its value is clearly anchored in the land and location rather than the structure's features, appealing to those who prioritize community and long-term equity over immediate move-in luxury. A thoughtful perspective is that the lack of extensive systems (like a basement) can mean lower repair costs and simpler upkeep, aligning with a minimalist or efficiency-focused lifestyle.
Frequently Asked Questions
1. What does the high ranking for "land area" actually mean?
It indicates this property's lot size is larger than nearly all comparable lots in Varsity View and Winnipeg. In an established neighborhood, this is a significant and fixed advantage, offering more outdoor space or future potential.
2. The home is smaller and older than many in the area. Where is the value?
The value is primarily in the land and location. The consistent appreciation in sale price, despite the home's modest specs, underscores the strength of the Varsity View community and the desirability of the lot itself.
3. Who would be interested in a home with no basement or garage?
Buyers seeking minimal maintenance and lower utility costs. It also suits those who view the property as a long-term land hold or who prefer to use a shed or on-street parking, common in university areas.
4. The assessment is now higher than the 2022 sale price. What does that suggest?
It suggests municipal assessment aligns with the rising market trend for the area. It can indicate strong equity growth for the seller, but for a buyer, it reaffirms the neighborhood's upward trajectory.
5. Given the recent sales, is there room for future value growth?
The steady climb in price over the last five years, even for a simpler home, points to the underlying demand in the location. Future growth would likely be tied to broader market trends and any potential updates to the structure itself.