Property Overview
70 Middle Gate is a well-situated, one-storey home in the established Armstrong Point neighbourhood. Built in 1953, it sits on a large, mature lot of over 9,000 square feet, which is notably larger than most properties in Winnipeg. The home itself offers a comfortable 2,002 square feet of living space and features an attached garage and a renovated basement. Its current assessed value is $750,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of a prime location and significant land size. Armstrong Point is a quiet, historic neighbourhood known for its character and charm. The lot is a standout feature, offering rare space and potential in the heart of the city. The home's living area is also generous compared to local averages, and the renovated basement adds functional space.
This property would suit a buyer looking for a solid, single-level home in a prestigious area, who values a large private yard above having a newer build. It’s ideal for someone who may have longer-term plans to renovate or expand the existing home to match the caliber of its setting. The data suggests it’s a property with a strong underlying value, as evidenced by its high city-wide rankings for lot size and assessed value, appealing to those who see investment in land and location as paramount.
Frequently Asked Questions
1. How does the age of the home affect its value?
While the home itself is older than most on its street and in the neighbourhood, this is balanced by its highly desirable location and the large lot. The value is significantly supported by the land, with the house offering functional living space that can be updated over time.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the finish quality, layout, and whether it includes a legal suite or additional bedrooms are not provided. This would be a key point for further inquiry with the listing agent.
3. The assessed value is $750k, but what might it sell for?
The property last sold in September 2020 for $811,100. The current assessed value is a municipal valuation for tax purposes and is not a direct indicator of market price. Sale price will depend on current market conditions, the home's interior condition, and buyer demand for the unique lot.
4. Is the large lot a maintenance burden or an opportunity?
This depends on the buyer's perspective. The nearly quarter-acre lot requires more upkeep but offers exceptional privacy, space for gardens, recreation, or future additions like a deck or garage. It’s a rare blank canvas in a mature neighbourhood.
5. How does this property compare to others at a similar price point?
The comparison list shows other homes in Winnipeg with a $750k assessment, but they are in different, typically newer, suburban neighbourhoods. This highlights a key trade-off: 70 Middle Gate offers an established, central location and a large lot, while similarly priced homes elsewhere may offer more modern construction and square footage.