Property Overview
3227 Grant Avenue is a well-maintained bi-level home in the established Varsity View neighbourhood. Built in 1985, it sits on a generous 4,253 sqft lot and features a finished basement and a detached garage. The home recently sold for $355,000, which was above its municipal assessment, indicating strong market interest.
Its appeal lies in its location within a mature, sought-after community, offering a substantial lot size that is above average for the area. The recent sale price suggests buyers saw value beyond the home's modest 691 sqft of living space, likely appreciating the potential of the finished basement and the lot itself. This property would suit first-time buyers or downsizers looking for a manageable home in a prime location, as well as investors or renovators who see value in the underlying land and the opportunity to update or expand over time. A thoughtful perspective is that while the living space is compact, the large lot and finished basement effectively extend the usable area, offering flexibility that isn't immediately apparent from the square footage alone.
Frequently Asked Questions
1. Is the living space too small?
At 691 sqft, the main living area is compact. However, the inclusion of a finished basement significantly increases the usable space, making the home more functional than the listed square footage suggests.
2. How does the recent sale price compare to the assessment?
The home sold for $355,000 in August 2024, which is approximately $62,000 above its municipal assessment of $293,000. This indicates the market valued the property's location, lot size, and condition higher than the assessed value.
3. What does the "ranking" data mean?
The rankings compare this property to others on its street, in Varsity View, and across all of Winnipeg. For example, its lot size ranks in the top 3% within the community, while its living area is in the bottom 5%. This highlights a key dynamic: you are purchasing a large lot in a prime area, with a home that offers potential for future updates.
4. Is the neighbourhood desirable?
Varsity View is a mature, established neighbourhood near the University of Manitoba. The data shows homes here generally command higher values; this property's sale price ranked higher than 65% of recent community sales, confirming the area's enduring appeal.
5. What are the implications of a "bi-level" design?
A bi-level home typically features living areas split over two short flights of stairs. This can create distinct zones for living and sleeping. It's efficient but may not suit those seeking single-level living. The finished basement here would help mitigate that by adding flexible space.