Property Overview: 298 Lynbrook Drive
This classic two-storey home in Varsity View stands out for its generous proportions and established setting. Its primary appeal lies in the rare combination of a large, 10,759 sqft lot with a substantial 2,229 sqft of living space, including a finished basement. Built in 1954, the home is a well-maintained example of its era, offering space and maturity that newer subdivisions often lack. The recent sale history shows strong and consistent appreciation.
The property would particularly suit buyers looking for a long-term family home with ample room for gardens, play, or expansion. It's ideal for those who value space over a brand-new build and are comfortable with the character and potential upkeep of an older, solidly built house. The top-tier rankings for lot size, living area, and value within Winnipeg suggest this is a property for those seeking a premium, established location rather than a starter home.
Frequently Asked Questions
1. How does the age of the home (1954) impact its value?
While the build year places it in the older third of homes locally, the excellent condition, recent updates, and superior square footage have clearly driven its market value. Buyers should budget for era-appropriate maintenance but can be confident in the home's proven, solid construction and spacious layout.
2. The lot is very large. What are the possibilities?
Beyond a spacious backyard, a lot of this size (over 1/4 acre) offers significant future potential. Subject to local bylaws, it could allow for additions, a large detached workshop or studio, or simply provide unparalleled private green space in the city.
3. The home recently sold for significantly above its assessed value. Why?
The assessed value is for taxation purposes and often lags behind a hot market. The sale price reflects what competitive buyers were willing to pay for the highly desirable combination of lot size, living space, and location—attributes this home ranks in the top 5% for city-wide.
4. What does the "finished basement" entail?
The listing confirms a finished basement, which adds to the total usable living area. Prospective buyers should verify the finish quality, ceiling height, and whether it includes a separate entrance or legal suite potential, which would add further value.
5. Is the lack of a garage a major drawback?
The property has a split-style garage, which is common for its era. While not the oversized double garage of newer homes, it provides covered parking. The massive lot does offer potential to build a larger garage if desired, which is a key advantage over homes on smaller lots.