Property Overview
This 1.5-storey home in Varsity View offers a blend of historic character and practical living on a generous lot. Its primary appeal lies in its location within a well-established community and its larger-than-average land size of 6,591 sqft, which ranks in the top 21% for all of Winnipeg. The home itself, built in 1903, is a piece of local history with a functional, finished basement adding to its usable space. However, its 1,038 sqft living area and assessed value are modest relative to the lot, suggesting the property's greatest potential may be in its land. It would suit a buyer looking for a character home with room to garden or expand, or an investor who sees value in a sizable lot in a central neighbourhood. It's less suited for those seeking modern finishes, a garage, or maximum interior square footage without a renovation project.
Key Details & FAQs
- Key Characteristics: Built in 1903, 1.5-storey design, 1,038 sqft of living space, finished basement, no garage.
- Lot Size: 6,591 sqft, a standout feature that places it well above average for the city.
- Location: Varsity View neighbourhood, offering established streets and proximity to the University of Manitoba.
- Assessment & Value: City-assessed value is $245,000. Market value can differ based on condition, market trends, and the value buyers place on the large lot.
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 Winnipeg. For example, its lot size ranks in the top 21% city-wide (very high), while its building age ranks in the bottom 1% (one of the oldest). This highlights the contrast between a vintage home and a premium lot size.
2. Is the 1903 build year a concern?
It signifies undeniable character but also requires a proactive approach to maintenance. A thorough inspection is essential to understand the condition of foundational elements, plumbing, electrical systems, and the roof, which have likely been updated over time but may need further attention.
3. Who would this property suit best?
It's ideal for a buyer who values a large outdoor space in a central location more than a large or modern interior. It could appeal to someone with a vision for gradual renovation, a gardener, or an investor considering the long-term redevelopment potential of the lot.
4. What are the implications of having no garage?
This means on-site parking will be limited to driveway or street parking, and all storage must be accommodated within the house or a shed. This is a common trade-off in older neighbourhoods and is a practical consideration for vehicle ownership and seasonal items.
5. How should I interpret the assessed value versus the asking price?
The municipal assessment ($245,000) is for tax purposes and is often calculated using mass appraisal techniques. It may not reflect recent market conditions, specific upgrades, or the unique value of the large lot. The sale price will be determined by current buyer demand, the home's condition, and its perceived potential.