Property Overview & Key Characteristics
This is a 1,060 sqft, one-storey home built in 1961, situated on a notably large, 6,778 sqft lot in the established Varsity View neighbourhood. Its key appeal lies in the combination of a spacious, private yard—a rarity in the city—and a functional, fully finished basement, offering flexibility for living or storage space. The home ranks highly for its lot size, placing it in the top 19% of all properties in Winnipeg, which is its most competitive feature.
The property suits first-time buyers or downsizers looking for a manageable single-level layout in a mature community, with the vision and budget to potentially update the interior over time. It also appeals to value-conscious buyers who prioritize land over a modern turn-key home, seeing the large yard as a long-term asset for gardening, recreation, or future expansion. The 2019 sale price suggests the market has seen steady appreciation.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Varsity View, and across all of Winnipeg. For example, being in the "top 19%" for lot size in Winnipeg means 81% of homes sit on smaller lots, highlighting the property's standout feature.
2. Is the large lot a benefit or a burden?
It's a significant benefit for privacy, outdoor space, and future potential, but it also means higher property taxes relative to a similar home on a standard lot and more yard maintenance responsibility for the owner.
3. The home is older—what should I budget for?
Built in 1961, major systems (roof, wiring, plumbing, furnace) may be at or beyond their typical lifespan. A thorough inspection is crucial, and buyers should budget for updates and maintenance beyond any cosmetic renovations.
4. There's no garage. Is that common here?
In older Winnipeg neighbourhoods like Varsity View, many homes were built without garages. The large lot provides space to potentially add one (subject to bylaws), but on-street parking is the current reality.
5. How does the 2019 sale price relate to the current assessment?
The 2019 sale at $318,000 and the current $343,000 assessment indicate a trend of increasing value. The assessment is for municipal tax purposes; the market sale price is determined by current conditions, buyer competition, and the home's presented state.