Property Overview
This 1970-built, one-storey home in Varsity View offers a practical and well-located living option. Its primary appeal lies in its substantial, nearly 7,000 sqft lot—a rare find in the area that provides ample outdoor space and potential. The home features a finished basement and a split garage. While the 873 sqft living area is modest, the property's value is bolstered by its larger-than-average lot size and a current assessed value that ranks favorably within Winnipeg. It's a property that prioritizes land over square footage, suiting buyers looking for a manageable single-level home with room to garden, expand, or simply enjoy a generous yard in a central, established neighborhood. It would particularly appeal to downsizers, first-time buyers comfortable with a cozy footprint, or investors interested in the long-term value of the land.
Key Details & FAQs
Key Characteristics & Appeal:
- Spacious Lot in Central Location: The nearly 7,000 sqft lot is the standout feature, offering significant outdoor space in the sought-after Varsity View area.
- Practical & Manageable: The single-storey layout with a finished basement provides a low-maintenance living structure, ideal for those looking to avoid stairs.
- Strong Value Positioning: The property's assessed value ranks in the top 41% city-wide, suggesting it is viewed as a solid asset relative to the broader market.
- Ideal For: Buyers who value land size and location over a large interior. This includes downsizers, pragmatic first-time homebuyers, and those with a vision for future outdoor use or expansion.
Frequently Asked Questions:
1. Is the house too small at 873 sqft?
The living space is compact, ranking in the bottom 20% city-wide. However, the finished basement adds functional area. This layout suits those seeking efficiency and minimal upkeep.
2. How does the 1970 build year affect the home?
While not new, a home from this era often has simpler, robust construction. Buyers should budget for updates to major aging components like the roof, windows, or mechanical systems.
3. What does the strong lot size ranking actually mean?
Ranking in the top 17% in Winnipeg for lot size is significant. It means you're getting a key attribute—land—that is increasingly scarce, which typically supports long-term value.
4. The last sale was in 2016 for $248,000. Is the current assessment realistic?
The assessed value of $376,000 reflects market growth over eight years. Its ranking (top 41% in Winnipeg) indicates assessors see it as aligned with current values, though the final market price is determined by buyers.
5. Who would this property NOT suit?
It may not fit families needing multiple large bedrooms or those desiring a modern, open-concept layout without undertaking significant renovations. The appeal is grounded in the lot and location rather than a move-in-ready, spacious interior.