Property Overview
This 1965-built, one-storey home on a large 8,281 sqft lot offers a classic and practical living arrangement. Its key appeal lies in its generous, mature lot—a rarity that provides ample outdoor space and potential in a well-established neighbourhood. The home features a fully finished basement and an attached garage, adding functional living and storage space. With just over 1,000 sqft of main-floor living area, it presents a manageable footprint.
The property’s standout characteristic is its land value and established setting. While the house itself is of average size and age for the area, the lot size ranks in the top 10% across Winnipeg, suggesting a premium on outdoor space and future redevelopment potential. This home would suit first-time buyers or downsizers looking for a solid, single-level layout with a low-maintenance exterior but a sizable yard for gardening or recreation. It also appeals to value-conscious buyers who see the underlying asset in the land itself, whether for long-term enjoyment or future investment.
Frequently Asked Questions
1. What is the true draw of this property?
Beyond the house itself, the primary asset is the expansive lot. Ranking in the 90th percentile for size in Winnipeg, the land offers privacy, space for additions like a deck or garden, and long-term potential that smaller lots cannot match.
2. Is the house in need of major updates?
Built in 1965, the home is over 60 years old. Buyers should budget for updates to major aging systems (like roof, windows, plumbing, or electrical) that are typical for a house of this vintage, even if it has been well-maintained.
3. Who would this property not suit?
It may not suit buyers seeking a modern, open-concept layout or a turn-key, recently renovated home. The floor plan and finishes are likely characteristic of its era, appealing to those comfortable with a classic layout or a project.
4. How does the assessment value relate to the asking price?
The municipal assessment is $376,000. It’s important to note that assessed value is for taxation purposes and can differ from market value. A comparative market analysis of recent sales is essential to understand the current asking price.
5. What are the less obvious considerations?
The lot's large size is an advantage but also means higher property taxes and more yard maintenance. Additionally, while the basement is finished, its ceiling height, layout, and moisture control should be verified, as basements in homes from this period can sometimes feel dated or have dampness issues.