Property Overview: 120 Stockdale Street, Varsity View, Winnipeg
This well-situated two-storey home in the established Varsity View neighbourhood presents a compelling opportunity. Built in 1974, it sits on a generous 6,164 sqft lot and offers 1,560 sqft of living space with a finished basement and an attached garage.
The appeal lies in its strong relative value and established location. The home consistently ranks in the top tiers for its street and area across key metrics like lot size, living space, and assessed value. It’s a property that outperforms a significant majority of comparable homes in its immediate vicinity, suggesting a solid foundation. The neighbourhood offers a mature, quiet setting with the convenience of nearby university amenities.
This home would suit practical buyers looking for a move-in-ready property with space in a proven neighbourhood. It’s ideal for a young family seeking stability, an investor attracted by the consistent rankings and rental potential near the university, or a downsizer wanting a manageable home without sacrificing yard space. It appeals to those who value data-backed performance over flashy newness.
Frequently Asked Questions
What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area. For example, ranking in the "top 27%" for assessed value on its street means it is valued higher than 73% of its direct neighbours, indicating it is a stronger-than-average property on that block.
Is the 1974 build year a concern?
While not new, the home ranks newer than over half of all Winnipeg homes, suggesting the area itself is well-established. The key will be the condition of major aging components like the roof, windows, and furnace, which a thorough inspection will clarify.
The 2020 sale price seems low compared to the current assessment. Why?
The assessment reflects the municipal valuation for tax purposes, influenced by market trends and improvements. The 2020 sale captures the price at the peak of the pandemic market. The current price likely reflects updated assessments and the local market's continued strength.
Who might this property NOT suit?
Buyers seeking a modern, open-concept layout or extensive recent renovations may find the 1970s floor plan and style requires updates. It's also not for those wanting a brand-new community or zero landscaping work, given the mature lot.
How significant is the large lot size?
At over 6,000 sqft, the lot is a major asset, ranking in the top 41% on its street. This offers ample private outdoor space, potential for gardening, expansion, or future additions (subject to bylaws), which is increasingly rare in central neighbourhoods.