Property Overview
This 1940s bi-level home at 227 Haney Street offers a unique proposition in Winnipeg's Varsity View neighbourhood. Its primary appeal lies in the combination of a large, mature lot in a central location with a home that presents a clear value-oriented opportunity. The 6,296 sqft lot is significantly larger than many in the area, providing ample outdoor space and future potential in a neighbourhood where such parcels are rare. The home itself, with 750 sqft of living space and a finished basement, is functionally compact and likely appeals to those prioritizing location and land over square footage.
This property is best suited for a specific buyer: the value-conscious renovator, an investor looking for a hold-and-improve asset, or a first-time buyer seeking an entry point into a desirable, established community like Varsity View. Its strong city-wide ranking for lot size (top 25%) highlights its underlying asset value, while its lower rankings for living area and age indicate the work required. The appeal is less about move-in-ready perfection and more about securing a footprint in a prime area with the vision to tailor it over time.
Frequently Asked Questions
1. What does the "bi-level" style mean for daily living?
A bi-level typically features a short flight of stairs to the main living area and another down to the lower level. This creates distinct separation between living and sleeping zones, which some find practical, but it means there are stairs to navigate for most daily activities.
2. The lot is large, but what are the responsibilities or possibilities that come with it?
A lot of this size (over 6,000 sqft) offers great potential for gardening, expansion, or outdoor living. However, it also means higher maintenance—more lawn to mow, more landscaping to manage—and potentially higher property taxes tied to land value.
3. The home ranks low for size and age in the area. Is this a concern?
It's a defining characteristic. It indicates the home is smaller and older than most in the immediate vicinity. For a buyer, this is the trade-off for the large lot and location. It suggests the value is in the land and the neighbourhood, with the house itself being a project or a functional starter space.
4. There's no garage. How does parking work?
The listing shows no garage, so parking would be via driveway or on-street. In a mature neighbourhood, this is common, but it's important to assess the driveway length and local street parking regulations, especially during Winnipeg winters.
5. The assessment value is provided, but how should I interpret it?
The municipal assessment ($318,000) is for tax purposes and is a lagging indicator of market value. Its rankings show it's valued lower than many area homes, which aligns with the home's condition and size. The eventual sale price will be determined by current market demand for this specific type of opportunity.