Property Overview
This 1968-built, one-storey home in Varsity View offers a unique proposition centered on its expansive 11,241 sqft lot—a rare find within the city. Its key appeal lies in this substantial, private outdoor space, which provides immense potential for gardening, expansion, or simply enjoying a large yard uncommon for Winnipeg properties. The 1,087 sqft living area includes a finished basement, presenting a functional layout for everyday living. While the home itself is of a vintage common to the area, its standout characteristic is its land value and relative positioning: the property ranks in the top 4% of Winnipeg for lot size and the top 29% for assessed value, indicating a strong underlying asset. This home would best suit a buyer who values land over a modern turn-key home—perhaps a family seeking room to grow, a renovator looking for a property with a superb foundation to update over time, or an investor attracted by the lot's long-term value in a desirable, established neighbourhood.
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. For example, being in the "top 4% for lot size in Winnipeg" means 96% of city properties have a smaller lot, highlighting its rarity.
2. Is the house itself outdated?
Built in 1968, the home is of its era. The finished basement adds living space, but buyers should anticipate characteristics and systems consistent with its age. The significant opportunity here is the land; the house represents a solid canvas for personalization.
3. Who would benefit most from this large lot?
Beyond gardening enthusiasts, the lot is a major asset for anyone valuing long-term privacy and space in the city. It offers future potential for additions like a garage, workshop, or deck, which smaller lots cannot accommodate.
4. How does the assessment value relate to the asking price?
The municipal assessment of $427,000 is a tax valuation and typically lags behind the market. Its ranking in the top 29% city-wide suggests the property is considered a substantial asset, but the final sale price will be determined by current market conditions and buyer demand for such a unique lot.
5. What is the neighbourhood vibe of Varsity View?
As a mature, established community near the University of Manitoba, it offers a quiet, residential feel with a mix of long-time residents and academics. The large lot provides a sense of seclusion while still being within a convenient, well-connected area.