Property Overview
This 1987-built, one-storey home in Varsity View sits on a large, 7,530 sqft lot. Its key appeal lies in a combination of space, established location, and relative value. With 1,503 sqft of living space and a finished basement, it offers practical single-level living with room to grow. The property ranks highly across Winnipeg for its lot size, living area, and assessed value, indicating it is a competitively sized home in a desirable context. Its strongest suit is the generous lot, which is larger than 97% of properties on its street and provides significant outdoor potential.
The home would suit buyers looking for a grounded, established property rather than a new build. It’s ideal for those who value a large yard for gardening, children, or pets, and prefer the character and mature landscaping of an older neighbourhood. It also appeals to practical buyers who see the value in a home that already ranks well above average in key metrics for the city, suggesting a solid foundation for the price.
Key Questions for Consideration
1. What does the "finished basement" entail?
Given the home's age and single-storey design, the basement finish likely adds crucial living space. It’s important to clarify the quality, ceiling height, and whether it includes a proper bedroom or secondary living area, as this significantly impacts the home's functional layout.
2. How does the 2022 sale price compare to the current assessment?
The home sold for $490,000 in April 2022 and is now assessed at $503,000. This relatively stable value over two years may indicate a settled market price, but it's wise to investigate what, if any, updates have occurred since the last sale to justify the increase.
3. What are the implications of the "one storey" design?
While offering easy living, this style can mean a larger footprint on the lot. Combined with the very large yard, this could mean less lawn maintenance but also a specific streetscape presence. It's perfect for avoiding stairs, but roof maintenance and exterior wall area may be proportionally larger.
4. The home ranks lower for "newness" but high for size and value. What does this trade-off mean?
The property is newer than 72% of Winnipeg homes, so it's not historic, but systems like the roof, windows, and furnace are approaching key replacement ages. The high rankings for space and value suggest you're paying for land and square footage, with a budget likely reserved for modernizing mechanicals or cosmetics over time.
5. Why does the lot size rank so much higher than the neighbourhood rank?
The lot is in the top 3% on its street but only top 43% in Varsity View. This suggests the street has unusually large lots, offering more privacy and space than some nearby areas, but the neighbourhood overall has a mix of property sizes. It highlights a micro-feature of this specific location.