Property Summary: 289 McLean Street, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a classic, well-situated single-storey home built in 1949, offering a rare and substantial lot of over 8,000 square feet in the established Varsity View neighborhood. Its primary appeal lies in this generous, private outdoor space—a blank canvas for gardening, recreation, or future expansion—which is increasingly uncommon in central areas. The home itself is modest at 563 sqft with a finished basement, presenting a clear value proposition centered on land and location over square footage.
It ranks exceptionally well for its lot size within Winnipeg (top 11%), highlighting its standout characteristic. However, its smaller living area and older build date reflect a property suited for a specific buyer: those seeking an entry point into a desirable neighborhood who value land potential and are comfortable with a home that may require updates or a thoughtful renovation to align with modern living standards. It’s an ideal match for a hands-on buyer, an investor looking for a lot with future redevelopment potential, or someone prioritizing a large yard in a mature community over a turn-key interior.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. They confirm the lot size is a major asset (ranking in the top 11% city-wide), while the home's age and smaller living space are typical for the area but below average for the wider market.
2. Is this a "tear-down" property?
Not necessarily. While the large lot certainly has redevelopment potential, the presence of a finished basement suggests it has been maintained as a livable home. Its value is a blend of the land and the existing structure, appealing to both renovators and those who might consider future redevelopment.
3. Who is the typical buyer for a home like this?
This property is best suited for a practical, visionary buyer. This could be a first-time homeowner willing to grow into the space over time, a contractor or DIY enthusiast looking for a project with a great lot, or an investor considering the long-term value of the land in a stable neighborhood.
4. How does the finished basement impact the living space?
While the main floor is 563 sqft, the finished basement adds functional space. However, it's important to clarify the basement's condition, ceiling height, and legal egress to understand its true utility as living area versus storage or utility space.
5. What are the less obvious considerations with a large, older lot?
Beyond the obvious privacy and space, consider ongoing maintenance (lawn care, tree management) and potential costs. Also, investigate any long-term community plans or zoning bylaws that could affect how the land might be used or improved in the future, as this is a key part of the property's value.