Property Overview
This 1928-built, one-storey home in Varsity View offers a unique proposition centered on land value and location. Its key appeal lies in its substantial 8,810 sqft lot, which ranks in the top 9% for size across Winnipeg, providing exceptional outdoor space and redevelopment potential in a mature, central neighbourhood. The home itself is modest at 716 sqft with a finished basement, representing a classic "value in the land" scenario. Recent sale activity shows significant price movement, suggesting strong buyer interest.
It would best suit a specific type of buyer: those looking for a central location with ample yard space for gardening or expansion, investors or builders eyeing the lot's future potential, or buyers comfortable with a character home who prioritize location and land over interior size and modern finishes. Its charm is not in its vintage condition or size, but in the tangible asset of the land and the opportunity it presents.
Frequently Asked Questions
1. Why has the price changed so much recently?
The records show a rapid increase from $200,000 to over $307,000 within months. This typically reflects a competitive bidding situation or a buyer seeing immediate value—likely in the lot size and location—that outweighed the home's smaller size and age.
2. Is the house in need of major updates?
Built in 1928, the home is nearly a century old. While it has a finished basement, buyers should anticipate the maintenance and system updates common with a house of this era. The value here is strategic; the cost of any updates should be weighed against the lot's inherent value.
3. What makes the location desirable?
Varsity View is a mature, established neighbourhood near the University of Manitoba. The appeal is a large, private lot in a central area without the premium price tag of a newly built home, offering a balance of space and convenience.
4. How does the lot size compare to others?
The lot is a standout feature. At 8,810 sqft, it is larger than 91% of properties in Winnipeg. This offers rare space for gardens, recreation, or future additions that simply isn't available in newer subdivisions.
5. What should I consider about the rankings provided?
The rankings clearly show a dichotomy: the lot size ranks exceptionally high, while the home's age, size, and original assessed value rank in the bottom tiers of its area. This underscores the property's profile: its primary strength is the land, not the current structure's metrics compared to neighbours.