Property Summary: 314 Laxdal Road, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1939, situated on a notably large, mature lot of over 9,400 square feet in the established Varsity View neighborhood. Its primary appeal lies in this generous land parcel, which ranks within the top 7% of all residential lots in Winnipeg for size, offering exceptional outdoor space and potential. The house itself is modest at 640 sqft with an unfinished basement and an attached garage, representing a true fixer-upper or blank canvas.
The property suits two main types of buyers: first, the land-value investor or builder who recognizes the rare opportunity of a large lot in a central location, likely viewing the existing structure as secondary to the land's future potential. Second, it could suit a hands-on buyer with a vision for a thorough renovation or expansion, willing to modernize a character home to create a personalized retreat on a spacious, private lot. Its charm is not in move-in-ready condition, but in the tangible asset of the land and the possibility it represents.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg. Key takeaways: its lot size is exceptionally large (top 7% in the city), while the house itself is older and smaller than most comparable properties. This highlights the investment as being primarily in the land.
2. Is the house livable in its current state?
Given its age, size, and the mention of an unfinished basement, a buyer should budget for and expect significant updates to mechanical systems, insulation, and interior finishes to meet modern living standards. It is likely a project.
3. What can be done with such a large lot?
Beyond a large garden, the lot size opens possibilities not found on standard parcels, such as adding a substantial addition, creating detached workshop or studio space (subject to zoning), or simply enjoying unparalleled green space and privacy for the area.
4. How does the assessed value relate to the asking price?
The city's assessed value is for taxation purposes and is often lower than market value. Here, the assessment of $281,000 provides a baseline, but the market price will be strongly influenced by the premium for the lot size and location, not just the existing structure.
5. What are the less obvious considerations?
A home of this age on a large lot may have older trees with preservation considerations, and the underground service lines could be original. Also, while the lot is a huge asset, property taxes will be calculated on its eventual market value, not its current condition, which is a factor for long-term budgeting.