Property Overview: 27 Collett Cove, Varsity View, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated two-storey home in Varsity View offers a compelling blend of space, location, and established value. Built in 1998, the property sits on a generous 7,505 sqft lot and features over 2,000 sqft of living space, an unfinished basement for future customization, and an attached garage. Its appeal is rooted in strong community rankings: it outperforms 90% of Winnipeg homes in living area and sits in the top 13% for lot size city-wide, indicating a premium amount of private outdoor space for the area.
The home is particularly suited to buyers seeking a move-in ready family home in a mature, sought-after neighbourhood. Its recent sale in May 2024 at $595,000, slightly above the assessed value, suggests a market-validated price point. A thoughtful perspective for buyers is the home’s age—at 28 years, major components like the roof, windows, and HVAC may be approaching or have recently undergone significant updates, which is a key due diligence point. The unfinished basement, while requiring an investment, offers a clear opportunity to add significant value and tailor the home to a new owner’s specific needs without the constraints of an existing layout.
Section 2: Frequently Asked Questions
1. How does the lot size and home size compare to others in the area?
The property ranks very highly. Its lot size is larger than 87% of all homes in Winnipeg, and its living area is larger than 90% of city homes. Within the Varsity View community, it surpasses 89% of properties in interior space.
2. The home was built in 1998. What should I consider regarding its age?
As a home approaching 30 years, prospective buyers should prioritize inspections of major systems and components. The roof, exterior finishes, plumbing, electrical, and the furnace/air conditioning units are all at an age where maintenance, updates, or replacement should be evaluated. This isn't uncommon, but it's a crucial factor for budgeting.
3. What does the "unfinished basement" entail?
It means the basement space is a blank canvas with bare walls, floors, and ceilings. It is equipped with the essential structural and utility elements (like the furnace, water heater, and electrical panel) but requires a full build-out—including framing, insulation, drywall, flooring, and lighting—to become livable space. This allows for complete customization.
4. The home just sold in May 2024. Why is it back on the market?
This information is not provided in the available details. The property data shows the transaction history and current listing status, but the specific reason for the re-list would need to be confirmed directly with the selling agent or through further disclosure.
5. How does the recent sale price compare to the city's assessment?
The home sold for $595,000 in May 2024, which is approximately $23,000 above its most recent assessed value of $572,000. This indicates that the market value was determined by buyer competition to be higher than the municipal assessment at that time.