Property Overview: 223 Wexford Street, Varsity View, Winnipeg
Key Characteristics & Buyer Appeal
This is a classic 1946 one-storey home on a large, 5,716 sqft lot in the established Varsity View neighborhood. Its key characteristics include 720 sqft of living space, an unfinished basement, and a detached garage. The core appeal lies in its prime location and significant lot size, offering a rare opportunity in a sought-after area close to the University of Manitoba. The property presents itself as a true blank canvas.
It would best suit a specific type of buyer: those with a vision for creating their own home, whether through a major renovation, a complete rebuild, or an addition that capitalizes on the generous lot. It’s also a practical entry point into a desirable neighborhood for an investor or a buyer comfortable with a project. The value here is fundamentally in the land and location, not the current structure, which ranks low in size, assessed value, and modernity compared to area norms. This isn't a move-in-ready home, but a foundation for one.
Frequently Asked Questions
1. What is the true condition of the home?
Given its age (80 years), small size, and rankings that place it in the bottom tiers for living area and assessed value on its street, buyers should anticipate a home requiring significant updates or potentially a full redevelopment. Professional inspections are essential.
2. Why is the lot size a major advantage?
At over 5,700 sqft, the lot is substantially larger than many in the city. This not only provides ample yard space but also offers greater flexibility for future expansions, additions, or landscaping projects that wouldn't be possible on a standard-sized lot.
3. Is this a good investment property?
The location in Varsity View, near the university, always creates rental demand. An investor would likely be considering the potential for a future redevelopment into a multi-unit property (subject to zoning) or a substantial renovation to increase rental yield.
4. What does the "unfinished basement" mean for potential?
While it requires investment to finish, an unfinished basement in a home of this era often has good ceiling height and a simple layout, making it a straightforward candidate for adding valuable living or storage space in the future.
5. How do the ranking percentages work?
These rankings compare this specific property against others on its street, in Varsity View, and across all of Winnipeg. For example, ranking in the "top 39%" for lot size city-wide means the lot is larger than 61% of all Winnipeg properties, highlighting its standout feature. Conversely, rankings in the bottom 10% for living area confirm the home itself is very small by current standards.