Property Summary: 275 Princeton Boulevard
Key Characteristics & Appeal
This is a classic, single-storey home in the established Varsity View neighbourhood, built in 1952. Its primary appeal lies in its exceptionally large, private lot—over 13,000 square feet—which ranks in the top 3% of all residential properties in Winnipeg for size. This offers rare potential for expansion, gardening, or outdoor living within the city. The home itself is modest at 780 sqft, presenting a straightforward layout typical of its era.
The property suits two main types of buyers: first, those seeking a land-value opportunity who are comfortable with a home that may require updating or who have plans to significantly renovate or rebuild to maximize the lot's potential. Second, it appeals to buyers prioritizing a massive, tranquil yard in a mature, central neighbourhood over a large interior footprint. Its rankings highlight a clear trade-off: while the lot is among the city's elite in size, the house is smaller and older than most, positioning it as a project or a lifestyle choice centered on outdoor space.
Frequently Asked Questions
1. What does the ranking system mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. For example, being in the "top 3%" for land size means only 3% of Winnipeg lots are larger. Conversely, rankings in the 70th-90th percentile for age and living area indicate the house itself is older and smaller than most comparables.
2. Is the house in its original condition?
The details provided do not specify the interior condition or any renovations. Given the 1952 build date and the focus on lot value, prospective buyers should budget for potential updates to systems, insulation, and finishes, and will need to verify the home's state through a viewing and inspection.
3. What can I do with such a large lot?
Beyond a spacious yard, a lot of this size may allow for significant additions, the construction of a detached workshop or garage, or even subdivision, subject to the City of Winnipeg's zoning bylaws and approval processes. This is a key point for due diligence.
4. Why is the assessed value relatively moderate given the lot size?
Municipal assessments consider both land and building value. Here, the high land value is likely balanced by the lower value attributed to the older, smaller dwelling. The assessed value reflects its current state, not necessarily its potential after renovation.
5. What are the immediate costs or considerations?
Beyond the purchase price, consider the age of major components like the roof, foundation, plumbing, and electrical. The heating system may be original or nearing end-of-life. Property taxes will be based on the assessed value, but the substantial lot size is a key factor in that calculation.