Property Summary: 457 Laxdal Road, Varsity View, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-situated, single-storey home on a remarkably large, 10,188 sqft lot in the established Varsity View neighborhood. Its primary appeal lies in the combination of a generous, private yard—a rarity in the city—and a practical, move-in-ready layout featuring a finished basement. The 1970-built home offers 1,085 sqft of living space, presenting a solid foundation for comfortable living or future customization.
The property’s standout strength is its land value and location. It ranks in the top 6% of Winnipeg for lot size, offering immense potential for gardening, recreation, or expansion. While the home itself is modest in size and era, its rankings for lot size consistently outperform its age and assessment value rankings, suggesting the land itself is a significant asset. This home would perfectly suit first-time buyers or downsizers seeking a low-maintenance, single-level floorplan in a prime area without sacrificing outdoor space. It’s also an astute choice for a long-term buyer who values the future potential of the land as much as the current structure.
Section 2: Frequently Asked Questions
1. What is the true value proposition here?
The value is heavily weighted toward the land. You are purchasing one of the larger lots in Winnipeg, in a desirable central neighborhood, with a liveable house included. It's an opportunity to secure a premium location with options for the future.
2. What does the "finished basement" entail?
The listing confirms a finished basement, but specifics on layout, ceiling height, permits, and moisture control should be verified through a viewing and inspection, as these factors greatly affect usability and value.
3. How does the 2020 sale price compare to the current asking price?
The home sold for $285,000 in late 2020. The current assessed value is $342,000. This gap reflects market changes over nearly four years and the assessed value, not necessarily the list price. A market evaluation is needed to understand the current asking price strategy.
4. Is the house outdated or ready to live in?
Built in 1970, the home will likely have original or older components (like windows, roof, mechanical systems) that require evaluation. The finished basement suggests livability, but a home inspection is crucial to understand the condition and any immediate or upcoming investments needed.
5. Why are the rankings for lot size so strong, but others are average?
This highlights the property's profile. It has an elite-sized lot (top 6% in Winnipeg) but a house that is average in size and age for its area. This is common for older neighborhoods and indicates a property where the land constitutes a larger portion of the overall value.