Property Overview: 190 Wordsworth Way, Winnipeg
Key Characteristics & Appeal
This two-storey home in Westwood is defined by its generous, well-situated lot and a notably low property tax assessment. Built in 1962, the house itself offers 1,200 sqft of living space, which is fairly typical for the area. Its standout feature is the 6,821 sqft lot, which ranks within the top 30% for size on its street, offering ample outdoor space for gardening, play, or expansion. The basement has been renovated, adding functional living area.
The primary appeal lies in its value proposition. With an assessed value significantly lower than many viewed comparable homes, it presents a substantial opportunity for equity building and future appreciation, particularly for a buyer willing to invest in updates. The lot size is a permanent asset that is increasingly rare. This property would suit a practical first-time buyer, an investor looking for a property with strong land value, or a homeowner comfortable with a house that may require modernization but offers a solid foundation and excellent outdoor space on a quiet street.
Frequently Asked Questions
1. Why is the assessed value so much lower than similar homes in the area?
A significantly lower assessment often reflects a historical valuation that hasn't caught up to market trends or specific property conditions. It can result in considerably lower annual property taxes, which is a direct financial benefit for the owner.
2. What does the lot size ranking actually mean for me?
Ranking in the top 30% for lot size on Wordsworth Way means you're getting more land than most of your immediate neighbours. This provides greater privacy, potential for additions like a garage or deck, and more yard space than is common for the street.
3. The home was built in 1962. What should I be aware of?
While the renovated basement is a plus, a home from this era may have original components—like wiring, plumbing, windows, or the roof—that are nearing or past their typical lifespan. A thorough inspection is crucial to understand any upcoming maintenance or updates needed.
4. There's no garage. Is adding one feasible?
Given the large lot size, adding a garage or carport is likely very feasible from a space perspective. You would need to investigate local zoning bylaws, setback requirements, and associated costs to confirm.
5. How does the "renovated basement" affect living space and value?
A renovated basement legally adds functional living area (like a family room or extra bedroom) and can increase the home's utility and appeal. It's important to verify the quality of the renovation, ensure it meets code, and understand if any permits were pulled for the work.