Property Overview
This 1951 one-and-a-half storey home in Varsity View offers a classic Winnipeg living proposition. Its key appeal lies in a substantial 8,344 sqft lot—a rare, generous parcel of land that ranks in the top 10% citywide for size. The home itself is modest at 1,026 sqft of living space and includes a finished basement. While the house is older and does not feature a garage, its exceptional lot size and established, tree-lined neighbourhood provide a solid foundation. The recent 2023 sale at $340,000, slightly below the current $345,000 assessment, suggests a stable, grounded value.
This property would best suit a pragmatic buyer who sees potential beyond the current structure. It’s ideal for someone valuing outdoor space for gardening, play, or future expansion over immediate move-in perfection. It also appeals to those seeking an entry point into a desirable central neighbourhood, willing to update a character home over time.
Frequently Asked Questions
Q: The house is older and smaller. What's the main draw here?
A: The primary asset is the land. The lot is exceptionally large for the city, offering privacy, space, and long-term potential that is increasingly hard to find in central neighbourhoods.
Q: How does the lack of a garage impact daily life and value?
A: It requires planning for vehicle parking and storage. For some, it's a drawback; for others, it presents an opportunity to build a garage or workshop tailored to their needs on the spacious lot.
Q: The home ranks low for its age. Should I be concerned?
A: It confirms the house is a classic, unrenovated post-war property. It's not a concern for a buyer anticipating updates, but it does underscore the importance of a thorough inspection to understand the condition of major systems.
Q: The lot ranks very high, but the house ranks average or below. What does this mean?
A: This disparity is the defining characteristic of the property. It indicates that the intrinsic value is heavily weighted toward the land itself, with the existing structure representing a smaller portion of the overall price.
Q: Given the 2023 sale, is the assessed value realistic?
A: The close alignment between the recent sale price and the current assessment suggests the market and city assessor see similar value, indicating a stable and transparent pricing environment for this home.