This 1955-built, one-storey home in Varsity View offers a unique proposition centered on its expansive lot and established neighborhood. Its primary appeal lies in the exceptional 13,585 sqft property, which ranks in the top 3% for size across Winnipeg, providing rare potential for gardening, expansion, or simply enjoying generous private outdoor space. With a finished basement and a split garage, the 972 sqft home presents a practical, low-maintenance footprint. The property suits buyers looking for a land-value play in a prime area, whether they are long-term owners wishing to customize or investors recognizing the irreplaceable lot size. It’s particularly suited for those who value outdoor space over a large interior and are comfortable with a home that has good "bones" but may require updating to match its premium land value.
-
What does the "ranking" data actually mean for me?
The rankings show the home's competitive standing. Its lot size is a major asset (top 3% in Winnipeg), while the house itself is smaller and older than most in the area. This highlights a trade-off: you're purchasing a premium piece of land with a modest, vintage home on it.
-
The assessed value is significantly higher than the 2021 sale price. Is that a concern?
The increase in assessed value to $433,000 from the 2021 purchase price of $348,000 reflects market changes and the city's valuation of the property, particularly the land. It sets a baseline for property taxes but does not dictate market price; however, it underscores the perceived value of the lot.
-
Is the smaller living space (972 sqft) a limitation?
It depends on your needs. The finished basement effectively doubles the usable space, making it functional for a small family or couple. The appeal here is efficient living on a large lot, not a large interior.
-
Who would this property NOT be ideal for?
It may not suit buyers seeking a move-in-ready, modern home or those who prioritize large, updated interior spaces over outdoor potential. The home's age suggests future maintenance investments are likely.
-
What's the real opportunity here?
The opportunity is long-term. You are acquiring an asset—the large lot—in a sought-after neighborhood that is inherently scarce. The existing home provides immediate utility, but the property's greatest value may be realized through future renovation, expansion, or simply by holding a sizable piece of a well-located community.