Property Overview
This 2011-built bi-level home at 224 Princeton Boulevard offers a modern, low-maintenance living experience in the established Varsity View neighborhood. Its key appeal lies in a combination of newer construction, a generous 8,246 sqft lot, and strong performance in local market rankings. The home features 1,280 sqft of living space, a finished basement, and an attached garage.
It particularly suits first-time buyers or downsizers seeking a newer home without a premium price tag, and practical buyers who value a large yard in a central location. The data suggests a property that has appreciated well, with its current assessed value significantly higher than its 2020 purchase price, indicating a solid investment history. A less obvious point of appeal is the "sweet spot" it hits: being 15 years old, major components are likely still in good shape while any initial new-build quirks have been resolved.
Key Characteristics & Ideal Buyer
- Modern & Efficient: Built in 2011, this home benefits from contemporary building standards and materials, likely leading to better energy efficiency and fewer immediate repairs than older stock in the area.
- Spacious Lot in a Central Area: The lot size is a standout feature, ranking highly within Winnipeg. It offers ample outdoor space for gardening, play, or expansion, which is rare for newer homes in mature neighborhoods.
- Strong Market Position: The home ranks in the top tiers for its assessed value, age, and lot size within Varsity View and Winnipeg overall, signaling a desirable and competitive property.
- Move-In Ready Foundation: With a finished basement and an established landscape, the home provides immediate usable space without major projects.
- Ideal For: The profile suits pragmatic buyers—perhaps young professionals or active retirees—who want the convenience of a newer build, the space of a large lot, and the stability of a neighborhood with proven value growth. It’s for those who prioritize a balanced, long-term investment over a fixer-upper or a brand-new custom build.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, ranking in the "top 10%" for lot size in Winnipeg means 90% of city homes sit on a smaller lot. This data highlights the property's relative strengths.
2. Is a bi-level layout suitable for me?
Bi-levels feature split entryways with living areas typically up a short flight and bedrooms down another. This layout offers good separation of space but involves stairs between common areas. It's excellent for those who don't mind split-level living and appreciate defined zones.
3. The assessed value is higher than the 2020 sale price. What does that indicate?
This suggests the property has appreciated in value over the past four years, in line with market trends. The assessed value is used for property tax calculation, while the market sale price is determined by current buyer demand.
4. What are the advantages of a home built in 2011?
Homes from this era generally have modern insulation, wiring, and plumbing codes, along with more contemporary floor plans. They are past the initial "settling" phase of new construction but are not yet facing the major system replacements (like roofing or furnaces) that older homes might.
5. Why is the lot size considered a significant feature?
In established, central neighborhoods like Varsity View, large lots are increasingly scarce. An 8,246 sqft lot provides valuable outdoor space, potential for additions (subject to zoning), and a greater sense of privacy, all of which contribute to long-term value and enjoyment.