Property Overview
This 1914 one-and-a-half storey home in Varsity View offers a classic character property on a large, 5,380 sqft lot. Its key appeal lies in its established neighborhood setting and the significant potential held within its original structure. With 1,237 sqft of living space and an unfinished basement, it presents a clear opportunity for customization and expansion. The home last sold in 2021 for $320,000 and currently holds a municipal assessment of $357,000.
This property would best suit a specific type of buyer: a hands-on renovator, an investor looking for a value-add project, or someone seeking an entry point into a desirable central neighborhood who is prepared to invest sweat equity or capital over time. Its appeal is not in move-in-ready perfection, but in its solid foundation and the freedom to create a personalized home. A less obvious perspective is its ranking data: while the home's age and size rank lower within its immediate community, it outperforms over half of all Winnipeg homes for size and value, suggesting its perceived limitations are relative to a very high-performing area, highlighting the neighborhood's overall desirability.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor with a second floor under sloped rooflines, creating cozy bedrooms with potentially lower ceilings. It's a classic Winnipeg design offering character, but may require creative space planning.
2. How significant is the unfinished basement?
It's a major project space. While it requires investment to finish, it also provides a blank slate for adding living area, utilities, or storage without the constraints of undoing previous work.
3. The home is over 110 years old. What should I be most concerned about?
Prospective buyers must prioritize a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation. The age implies charm but also necessitates a budget for updating core systems and meeting modern standards.
4. The lot is large for the area. Can I build an addition or garage?
The expansive lot is a key asset, making future additions, a garage, or extensive landscaping feasible. You would need to consult with the city on zoning bylaws, setback requirements, and obtain the necessary permits.
5. How do the neighborhood rankings affect value?
The rankings show the home is modest compared to its immediate neighbors in Varsity View, a sought-after community. This indicates you're buying into a premium area at a relative entry point, with the property's value heavily tied to the neighborhood's overall strength rather than its current standing within it.