Property Overview
This 1974-built, one-storey home on a large 5,047 sqft lot in Varsity View offers a practical, grounded opportunity. Its key appeal lies in a balance of space and manageability. The 980 sqft living area is modest but functional, paired with a finished basement that adds valuable flexible space. The property’s standout feature is its lot size, which is notably generous for the area and provides ample outdoor potential. A split garage adds practical storage or workshop space.
Its appeal is for the pragmatic buyer: a first-time homeowner, a downsizer seeking single-level living, or an investor looking for a solid, rentable property. The home suits those who value a quiet, established neighbourhood near university amenities, and who see potential in a property that is livable now but could be enhanced over time. A less obvious perspective is its positioning relative to the market; while it ranks in the lower tiers for size and age within its immediate area, it outperforms nearly half of all Winnipeg homes for value, suggesting it’s a competitively priced entry into a desirable community. It’s a home for someone comfortable with a property that has character and history, not pristine modernity.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this home to others on its street, in Varsity View, and across all Winnipeg. For example, being newer than 44% of houses on its street means it’s roughly in the middle—neither the oldest nor the newest. Its strongest ranking is for lot size, where it surpasses most peers.
2. Is the finished basement included in the 980 sqft living area?
No. The 980 sqft refers to the above-ground living space. The finished basement is additional square footage, increasing the home's usable space but not counted in the official living area figure.
3. What are the implications of the home's age (52 years)?
A home from 1974 will likely have had several updates, but core systems (like plumbing, electrical, roof) may be at or beyond their typical lifespan. A thorough inspection is advised to understand the condition and plan for potential future updates, which also presents an opportunity to customize.
4. How does the assessment value relate to the likely selling price?
The municipal assessment of $398,000 is for tax purposes and is a historical snapshot. The current market price can be higher or lower based on condition, updates, and market demand. It serves as a useful benchmark, not a sale price.
5. Who would this property not suit?
It may not suit buyers seeking a modern, turn-key home with no projects, or those needing extensive above-ground square footage immediately. The rankings indicate the interior space is compact relative to the neighbourhood, so it’s better for efficient living or those willing to utilize the basement space fully.