Property Overview: 328 Laxdal Road, Varsity View, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic 1955-built, single-storey home on an exceptionally large, mature lot in the established Varsity View neighborhood. Its primary appeal lies in the rare combination of a central, family-friendly location and a vast, private outdoor space (over 14,600 sqft), which ranks in the top 2% of all properties in Winnipeg for land size. The house itself is modest at 910 sqft, presenting a clear opportunity for expansion or redevelopment to match the lot's potential.
The property suits two main types of buyers. First, it's ideal for a renovator, builder, or long-term planner who values land over the existing structure and envisions creating a custom home or significant addition. Second, it could appeal to a buyer seeking a lower entry point into a desirable neighborhood, who is comfortable with the home's original footprint and prioritizes immense yard space for gardens, recreation, or future projects. A less obvious perspective is its appeal to multi-generational living plans, where the large lot could accommodate a secondary suite or future separate dwelling.
Section 2: 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: the lot size is in the top 5% locally and top 2% city-wide (highly competitive), while the house itself is older and smaller than most comparable properties, indicating the value is primarily in the land.
2. Is this a teardown property?
Not necessarily. The 910 sqft bungalow is livable and could be renovated. However, the significant disparity between the high land value and the modest, older home suggests that major expansion or redevelopment is the most likely path to maximize the investment, making it a prime candidate for those with such plans.
3. How does the 2017 sale price relate to the current assessed value?
The property sold for $200,000 in 2017 and is now assessed at $297,000. This increase reflects broader market trends and, more specifically, the growing premium for large lots in central neighborhoods. The assessment suggests the city sees substantial underlying land value.
4. What are the immediate costs or considerations?
Buyers should budget for updates expected in a home from 1955, including mechanical systems, windows, and insulation. The roof's age should be verified. The scale of the lot also means higher maintenance (lawn care, snow clearing) or potential landscaping costs.
5. What is the neighborhood character and potential?
Varsity View is a stable, quiet residential area near the University of Manitoba. The lot's size is atypical, offering more privacy and space than most neighbors. This creates a unique opportunity but also a responsibility—any future development should be mindful of the established neighborhood scale and tree canopy that likely exists on such a mature lot.