Property Overview & Key Characteristics
This home is defined by its substantial, mature lot and its established, central location. The primary appeal lies in the rare combination of a very large, 11,499 sqft property in the sought-after Varsity View neighbourhood, offering immense potential for gardening, expansion, or future development. The house itself is a 1925-built one-and-three-quarter storey character home with a modest 1,227 sqft footprint, presenting a classic renovation or value-add opportunity.
Its key selling points are its land value and location. The lot size ranks in the top 4% of all Winnipeg properties, a significant advantage in a mature inner-city area. The location ranks highly within the community and city for desirability. However, the home's age, unfinished basement, and lack of a garage indicate it is best suited for a buyer looking for a project—whether that’s a full renovation to modernize the existing structure or a long-term hold with the option to redevelop the generous lot. It would suit an investor, a hands-on homeowner eager to customize, or someone prioritizing land value over a move-in-ready condition.
A less obvious perspective is the trade-off: you are acquiring a premier lot in a top-ranked neighbourhood, but the century-old house requires investment. The value proposition is fundamentally about the land and location, with the existing structure as a starting point.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a traditional architectural style where the second floor has sloped ceilings (following the roof line) and potentially dormer windows. It often means the upper floor has unique character but may have less full-height space than a pure two-storey home.
2. The lot is large, but the house seems small. What are the possibilities?
The significant lot size offers several options: creating extensive outdoor living spaces, adding a garage or workshop, or potentially expanding the existing footprint (subject to zoning and permit approvals). It provides flexibility that is very uncommon in central neighbourhoods.
3. The house is 100 years old. What should I budget for immediate updates?
While the condition isn't detailed, a home of this age typically requires attention to foundational systems. A thorough inspection is essential to budget for potential updates to wiring, plumbing, insulation, and the roof. The unfinished basement allows for easier assessment of the foundation and mechanical systems.
4. How does the assessed value relate to the likely selling price?
The current assessment is $271,000, which ranks in the lower third for the area. In a desirable neighbourhood with a lot of this size, the market price is often driven by development potential and location, not just the assessed value of the existing structure, and may exceed the assessment.
5. There's no garage. Can one be built?
Given the lot's large size, adding a detached garage is likely feasible, but you must check specific City of Winnipeg zoning bylaws for setbacks, maximum coverage, and permit requirements. The ample space is a major advantage for adding this amenity.