Property Overview
This 1940s one-storey home in Varsity View offers a classic Winnipeg living proposition. Its primary appeal lies in its exceptionally large, 8,076 sqft lot, which places it in the top 6% of properties on its street for land size. The house itself, at 1,225 sqft, provides a comfortable footprint. Key characteristics include an unfinished basement, no garage, and a traditional single-level layout. The property suits buyers who prioritize land over a turn-key home—ideal for someone with a vision for extensive gardens, outdoor space, or future expansion. It also appeals to those comfortable with a home of vintage character that may require updates, offering a solid foundation in a mature, established neighbourhood. A less obvious perspective is its strong relative ranking for lot size city-wide (top 11%), suggesting this is a rare urban parcel that could hold long-term value based on land scarcity alone, despite the home's age.
Frequently Asked Questions
1. What does the "relative ranking" data mean?
The rankings show how this property compares to others in specific categories. For example, its lot size ranks higher than 94% of homes on its street, indicating an unusually large yard for the area. Conversely, its 1940 build year ranks lower, meaning it's older than most comparable homes.
2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer. It requires investment to finish, but it also provides a blank canvas for creating additional living space, storage, or utilities without the cost of demolishing an existing finished layout.
3. The home is older—what should I be prepared for?
A home from 1940 will likely have older mechanical systems (like plumbing and wiring), windows, and insulation. Budgeting for maintenance, energy efficiency upgrades, and potential renovations is prudent. Its age is reflected in its lower ranking for "newness" across the neighbourhood and city.
4. There's no garage. How is parking?
The listing does not specify dedicated parking. Buyers should investigate on-street parking regulations, the potential to add a driveway or parking pad on the large lot, and typical parking availability in the immediate area.
5. The assessed value is higher than the last sale price. What does that indicate?
The city's 2024 assessment is $318,000, while it last sold for $280,000 in 2020. This gap can reflect market appreciation, different valuation methodologies, or specific property conditions. It establishes a base for property taxes but does not dictate market sale price.