Property Overview
This 808 sqft bungalow, built in 1955 on a 4,848 sqft lot at 443 Regent Avenue W, presents a specific and compelling value proposition. Its appeal lies in a clear contrast: while the living space is modest and below local averages, the property carries an assessed value significantly above its immediate neighborhood and street averages. This suggests the value is anchored more in its substantial lot size and location within Victoria West than in the size of the home itself. It suits a practical buyer looking for a foothold in a established area—perhaps a first-time homeowner, downsizer, or investor—who sees potential in the land or is willing to trade interior square footage for outdoor space and a valued address. A thoughtful perspective is that this property may represent the "bones" of a future investment, where the existing house provides immediate utility while the larger-than-average lot offers long-term options.
Frequently Asked Questions
1. Is the house too small?
At 808 sqft, the living area is below the average for both the street and neighborhood. It would suit a smaller household or someone comfortable with efficient, compact living. The trade-off is the larger lot.
2. Why is the assessed value higher than the neighborhood average?
The assessed value ranks in the top 10% for the local area, which is likely driven by two factors: the significantly larger-than-average lot size for the street and the overall desirability of the Victoria West neighborhood.
3. What does the lot size offer?
At nearly 5,000 sqft, the lot is about 18% larger than the street average. This provides extra outdoor space for gardening, recreation, or future expansion like a shed or deck, which is a notable premium in a city neighborhood.
4. How does it compare city-wide?
Compared to all Winnipeg, the home's living area is well below average, but its assessed value is much closer to the city median. This highlights that you are paying primarily for the specific location and land, not a large house.
5. What might a buyer prioritize with this property?
A buyer should prioritize the value of land and location over interior space. It's a property where future equity may come from the lot's potential or the neighborhood's stability, rather than the existing home's square footage. Maintenance and any updates on a 1955 build should also be factored into planning.