Property Overview
This 1,216 sqft one-and-a-half storey home, built in 1956, sits on a notably large, mature lot of nearly 11,000 sqft in Varsity View. Its key appeal lies in the combination of established neighborhood character and generous outdoor space—a rarity closer to the city core. The home features a finished basement and a detached garage. Recent data shows it sold for $440,000 in late 2023, with its assessed value slightly lower.
The property suits buyers looking for a solid, no-frills home on a lot with tremendous potential. It’s ideal for someone who values space for gardens, play, or future expansion over a modern, turn-key interior. Given its above-average rankings for lot size within Winnipeg, it particularly appeals to those who see land as the primary long-term asset, willing to update the 70-year-old home over time. It’s less suited for those seeking new construction, extensive modern finishes, or minimal maintenance.
Frequently Asked Questions
1. What does the "one-and-a-half storey" design mean?
Typically, it indicates a home with a main floor and a second floor where the roofline slopes into the walls, creating potentially cozier bedrooms or unique spaces. It's a classic mid-century design common in the area.
2. The lot is large, but what is it like practically?
A lot of this size (over a quarter-acre) offers great privacy, room for additions like a shed or deck, and ample green space. Consider that maintaining a large, mature yard requires more effort or equipment.
3. How does the recent sale price compare to the assessment?
The home sold for $440,000 in 2023, which is about 8% above its $407,000 assessment. This is not uncommon in active markets and suggests buyers placed a premium on the property's specific attributes, likely the lot.
4. What are the less obvious pros and cons of the home's age?
A 1956 home may have solid, real wood construction and character, but it also means aging infrastructure (like plumbing or electrical) should be budgeted for. The floor plan might feel compartmentalized compared to open-concept modern layouts.
5. The rankings show it's in the top 5% for lot size in Winnipeg but average for living space. What does this imply?
This highlights the property's value proposition: you are investing significantly in the land itself. The living space is functional but modest. The future value may be driven more by the lot's redevelopment potential or outdoor lifestyle appeal than by the current house's square footage.