Property Overview & Appeal
This 1960-built, one-storey home in Varsity View is defined by its substantial, nearly 9,500 sqft lot—a rare find that places it in the top tier of properties locally for land size. The 1,300 sqft living space is above average for the area and includes a finished basement. Its key appeal lies in the balance of a mature, established neighborhood with the immense potential of a large, flat parcel of land. The home suits two distinct buyer types: those seeking a solid, move-in-ready bungalow with ample room for gardens, play, and expansion, and visionaries who see the long-term value in the land itself for potential redevelopment or a significant future addition. A less obvious perspective is its appeal to multi-generational families; the single-level layout combined with a finished basement and massive yard offers flexible living arrangements and private outdoor space for all ages.
Frequently Asked Questions
1. What does the "finished basement" entail?
The listing confirms a finished basement but does not specify the extent. Buyers should inquire about ceiling height, layout, permits, and whether it includes a bathroom or separate entrance to fully assess its value and functionality.
2. How does the 1960 construction year affect the home?
While the home is well-established, its age means crucial systems like plumbing, electrical, roofing, and the foundation should be thoroughly inspected. This isn't necessarily a drawback, as the classic bungalow build is often straightforward to update, but it's a key due diligence point.
3. There's no garage. Is adding one feasible?
Given the exceptional lot size, adding a garage or carport is likely very feasible from a space perspective. Buyers should verify specific setback requirements and any restrictive covenants with the city to confirm plans.
4. The assessment value is lower than the asking price. Why?
Municipal assessments for tax purposes often lag behind market values, especially for unique properties like this with a premium lot. The market price reflects current demand, the land's development potential, and the home's condition, which may not be fully captured in the assessment.
5. What is the neighborhood character of Varsity View?
As a mature area near the University of Manitoba, it typically offers a quiet, established setting with a mix of long-term residents and academics. The large lot suggests a more spacious, private feel than newer subdivisions, but proximity to the university also means consistent rental demand nearby.