Property Summary: 426 Laxdal Road, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on an exceptionally large, mature lot in the sought-after Varsity View neighborhood. Its primary appeal lies in the rare combination of a central location and significant outdoor space, with a land size that places it in the top 2% of all properties in Winnipeg. The home itself is a classic 1961 bungalow with 1,200 sqft of living space and a finished basement, offering functional living areas. Its rankings highlight a compelling contrast: while the structure is older than many in the area, the sheer size of the property is a standout, enduring asset.
The property would suit buyers who prioritize land over a modern build—ideal for those seeking privacy, garden potential, or future expansion in a prime location. It’s a solid match for downsizers looking for single-level living without sacrificing yard space, or for families valuing proximity to universities and amenities who are willing to update a character home over time. The high lot rankings suggest this is a property where long-term value is anchored in the land itself.
Frequently Asked Questions
1. What does the "finished basement" entail?
The listing notes a finished basement, but specifics on layout, ceiling height, permits, and moisture control should be verified by a buyer's inspection, especially given the home's age.
2. How does the 1961 build year affect the home?
While the structure ranks as older than most in the area, this typically means buyers should budget for updates to major aging components like the roof, windows, plumbing, and electrical systems. The charm and location come with the expectation of ongoing maintenance.
3. The lot is huge. Are there any restrictions on its use?
The nearly 19,000 sqft lot is a major feature. Buyers should check the zoning bylaws with the city to understand possibilities for additions, secondary suites, or other structures, and confirm there are no unusual easements.
4. The value rankings seem mixed. What's the takeaway?
The data tells a clear story: this property competes in the top percentiles for land size but is average or below for the home's size, age, and assessed value. This indicates you are primarily investing in the land's scarcity and location, with the house representing functional living space.
5. Is the price aligned with the assessment?
The assessed value is noted as $388,000. Buyers should compare the list price to this assessment and recent sales of similar-sized lots in Varsity View, as the market price for such a large parcel may significantly exceed the municipal assessment.