218 Lynbrook Drive

Property Overview

This 1960-built, one-storey home in Varsity View offers a practical and spacious family footprint on a large, 8,074 sqft lot. Its key appeal lies in the combination of a fully finished basement, a generous land parcel that is significantly larger than most in Winnipeg, and the established, quiet character of the neighbourhood. The home suits buyers looking for solid value—a move-in-ready bungalow with ample outdoor space for gardening, play, or future expansion, without the premium of a newer build. It’s particularly well-matched for first-time homeowners seeking room to grow, or downsizers who want single-level living but still value a sizable, private yard.

The property’s competitive standing is noteworthy: its lot size ranks in the top 11% city-wide, a rare find that offers long-term flexibility. While the home itself is modest in size and of an older vintage, its overall assessed value places it comfortably ahead of the Winnipeg median, suggesting a well-regarded location and property fundamentals. This isn’t a modern showcase, but a home with strong underlying assets where the land itself is a major contributor to its worth.

Frequently Asked Questions

1. What does the lot size ranking actually mean?
The ranking indicates that this 8,074 sqft lot is larger than 89% of all residential lots in Winnipeg, making it a standout feature. In this established area, such a large parcel is uncommon and provides exceptional outdoor space and potential.

2. Is the finished basement included in the 1,056 sqft living area?
Typically, the listed living area refers to above-grade square footage. The fully finished basement is an additional space, adding significant functional room to the home’s total usable area.

3. The home was built in 1960. What should I be aware of?
While the systems and structure have likely been updated over time, a home of this age warrants a thorough inspection. Pay special attention to the roof, plumbing, electrical, and foundation, which are common focal points for maintenance in older, well-kept properties.

4. How does the assessment value relate to the likely selling price?
The municipal assessment of $387,000 is for taxation purposes and is often based on historical market data. The final sale price will be determined by current market conditions, buyer demand, and the home’s specific appeal compared to recent neighbourhood sales.

5. Who maintains the large lot, and are there any restrictions?
The homeowner is responsible for maintaining the entire property. It’s advisable to check with the city for any specific bylaws regarding tree preservation, fence heights, or setback requirements, especially given the lot’s size, to understand the full scope of your ownership responsibilities and opportunities.