Property Overview & Key Characteristics
This well-situated Varsity View bungalow offers a practical, low-maintenance living format on a generous lot. Built in 2003, its key appeal lies in a combination of relative modernity, a finished basement adding usable space, and a location that provides solid value within a desirable established neighbourhood. The home’s 1,223 sqft of living space is configured in a single-storey layout, ideal for those seeking accessibility or simply preferring to avoid stairs.
Its appeal is grounded in balance: it’s newer than most homes in the immediate area, yet sits on a lot larger than many newer builds. The property suits first-time buyers looking for a move-in-ready home in a mature community, downsizers wanting a manageable bungalow without sacrificing yard space, or investors attracted by the neighbourhood's steady rental demand near the university. A thoughtful perspective is that while the home’s size ranks average for the city, its lot size and newer age are standout features for its street and community, suggesting a property with upside in land value and deferred major maintenance.
Frequently Asked Questions
1. How does the finished basement affect the living space?
The finished basement adds flexible, below-grade space to the 1,223 sqft main floor footprint. It’s ideal for a recreation room, home office, or additional storage, but it's important to note that this space is not reflected in the official above-grade living area square footage.
2. What do the ranking percentages next to the features mean?
These metrics show how this property compares to others in its immediate street, wider community, and all of Winnipeg. For example, being newer than 95% of homes on its street is a significant advantage, while its lot size is a major asset, ranking highly across all categories.
3. The assessed value is higher than the 2021 sale price. What does this indicate?
Municipal assessments are for taxation purposes and can lag behind market trends. The increase from the 2021 sale price likely reflects general market appreciation and city valuation models. The current market value should be determined by a comparative market analysis of recent sales.
4. Is the neighbourhood primarily for students?
While Varsity View is adjacent to the University of Manitoba, it is a established residential community with a mix of long-term homeowners, families, and renters. The proximity to the university is an amenity that supports property values but does not define the entire character of the area.
5. What are the implications of the "ONE STOREY" building type?
This confirms the home is a bungalow. The main living areas, bedrooms, and bathrooms are all on one level, which is a sought-after feature for accessibility and ease of living. The attached garage and finished basement are accessed from this main floor.