Property Overview & Appeal
This 1945-built, one-and-a-half storey home in Varsity View offers a classic, grounded opportunity. Its key characteristic is a generous 5,380 sqft lot, providing substantial outdoor space that is increasingly rare in mature neighbourhoods. With 1,321 sqft of living space and an unfinished basement, the home presents a straightforward layout with clear potential for personalization or expansion to suit a buyer's needs. Its appeal lies in this balance of established community charm and a blank-canvas aspect. The property ranks notably well for its lot size within Winnipeg, placing it above the majority of city homes for outdoor space.
It would suit a practical buyer who values location and land over immediate turn-key finishes. This could be a first-time buyer or an investor comfortable with a home that has "good bones" and requires updates, or someone looking to add value through a renovation. The unfinished basement and the home's era also make it a potential fit for a buyer with specific renovation plans, as there are fewer pre-existing finishes to work around.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a 1945 home?
This style usually features a main floor with principal rooms and a second floor with sloped ceilings, often housing bedrooms in a cozier, character-filled space. It's a classic Winnipeg design from that era.
2. How significant is the lot size?
At over 5,000 sqft, the lot is a major asset. It offers ample room for gardening, play, entertaining, or future additions like a deck or garage, providing a sense of space that is hard to find in newer infill developments.
3. The home ranks lower for "newness" but high for lot size. How should I weigh that?
This highlights the property's profile: you are investing primarily in location and land. The house itself is a vintage property requiring modern updates, but it sits on a sizable plot in a desirable, established neighbourhood.
4. What are the implications of an unfinished basement?
While it requires investment to finish, it offers flexibility. You can customize the layout, insulation, and systems to your needs without removing old materials, and it can provide valuable dry storage in the meantime.
5. The assessment value is $350,000. Is that the expected sale price?
Not necessarily. Municipal assessments are for tax purposes and often lag behind the current market. The sale price will be determined by recent comparable sales, buyer demand, and the property's condition.