Property Overview
This well-situated Varsity View bungalow offers practical, single-level living on a large, mature lot. Built in 1998, its key appeal lies in a balanced combination of space, location, and established value. The home features 1,703 sqft of finished living space, including a developed basement, and sits on a 6,404 sqft property with an attached garage. Its consistent ranking above the majority of Winnipeg homes for lot size, living area, and assessed value points to a property that holds solid market standing. The 2021 sale price of $630,000, significantly above the current $599,000 assessment, suggests a history of strong buyer appeal.
The home suits buyers seeking the convenience and accessibility of a bungalow in a long-established neighbourhood close to the University of Manitoba. It would particularly fit growing families looking for more yard space than newer subdivisions typically offer, or downsizers who want main-floor living without compromising on indoor and outdoor square footage. A less obvious perspective is its appeal to value-conscious buyers who prioritize a home's fundamental metrics—lot size, living area, and assessed value—over more fleeting cosmetic updates, seeing solid foundations in a neighbourhood that has proven its long-term desirability.
Frequently Asked Questions
1. How does the current assessment compare to recent sale prices?
The property is currently assessed at $599,000. It last sold in November 2021 for $630,000, and prior to that in July 2017 for $570,000, indicating a history of market value at or above the current assessment.
2. What does the ranking data actually tell me?
The rankings compare this home to others on its street, in Varsity View, and across all of Winnipeg. For example, its lot size ranks in the top 24% city-wide, meaning it's larger than 76% of Winnipeg properties. Similarly, its assessed value ranks in the top 7% in Winnipeg, signaling it is considered a higher-value home.
3. Is the basement included in the listed living area?
The listed living area of 1,703 sqft is the main floor footprint. The basement is developed (finished) but is additional space not included in that official square footage figure.
4. What are the implications of the home's age (built 1998)?
At 28 years old, the home is past its brand-new warranty period but is also well-established within its neighbourhood. Major components like the roof, windows, and HVAC system are likely within or approaching their typical replacement cycles, which is a standard consideration for homes of this vintage.
5. How does this property stand out in its own neighbourhood?
Within Varsity View, the home ranks particularly high for its assessed value (top 13%) and recent sale price (top 9%). This suggests that, compared to its immediate neighbours, it is perceived and has transacted as a premium property, likely due to its above-average lot size and living area combination.