Property Overview
This is a well-established, single-story home in Varsity View, built in 1972. Its key characteristic is its efficient, 1,000 sqft layout with a finished basement, sitting on a generous 3,706 sqft lot. The appeal lies in its location within a mature, central neighbourhood and its straightforward, functional design. It suits first-time buyers seeking an entry point into a desirable area, downsizers looking for a manageable single-level floorplan, or investors interested in a property with solid rental potential due to its location near the University of Manitoba.
While the home ranks below average in size and assessed value for its immediate area, this reflects its position as one of the more accessible properties in the neighbourhood. Its consistent sale history shows steady appreciation, suggesting a stable, lower-volatility investment. The large lot offers valuable outdoor space and future potential that newer infill properties often lack.
Frequently Asked Questions
1. How does the home’s ranking affect its value?
The rankings show it's a smaller, more modestly valued home for the Varsity View area, which is precisely what makes it attainable. You're purchasing the location and lot, with the house itself offering functional living space at a more accessible price point than larger homes on the street.
2. What is the significance of the finished basement?
It effectively adds usable living space beyond the 1,000 sqft main floor, which is crucial for storage, utilities, or creating a separate living area. Given the home's smaller main footprint, this finished space adds important functionality.
3. Is the lack of a garage a major drawback?
For this property, it's a trade-off. The large lot provides ample space for parking and the potential to add a garage or carport later, which is a key advantage over properties on smaller lots. The absence of a garage is factored into the current price.
4. The home is over 50 years old. What should I consider?
A 1972 build means major systems (roof, windows, furnace, plumbing) are likely at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and timing of any necessary updates or replacements, which should be part of your budgeting.
5. Why have there been two sales in the last 7 years?
The sales in 2017 and 2021 could indicate previous use as a rental property (common near the university), or simply shorter-term ownership. It's a point to investigate, but the steady price increase between sales aligns with overall market trends rather than suggesting a problematic history.