5520 Rannock Avenue

Property Summary: 5520 Rannock Avenue, Winnipeg

Section 1: Overview & Appeal

This is a well-established, single-storey home in the Betsworth neighbourhood, built in 1972. Its key characteristic is a generous, mature lot of over 8,700 square feet, which is notably larger than most properties in Winnipeg and places it in the top 9% city-wide for land size. The home itself is a practical 1,008 sqft bungalow with a finished basement and a detached garage.

The primary appeal lies in its land value and established community setting. The expansive lot offers significant outdoor space for gardening, recreation, or future expansion, a rarity in many urban areas. Its strong rankings for lot size against both local and city-wide comparables suggest a solid, appreciating asset base. The home suits buyers looking for a manageable, single-level layout on a premium lot without the premium price of a newer build. It would particularly appeal to downsizers seeking space without the upkeep of a larger house, or to value-oriented buyers and investors who see potential in the land itself, whether for long-term enjoyment or future redevelopment.

A less obvious perspective is its relative "age competitiveness." While the home is 54 years old, it ranks newer than half the homes in Winnipeg, indicating it's in a neighbourhood with many well-maintained, mature properties. This isn't a dated outlier, but part of a stable, established streetscape.

Section 2: Frequently Asked Questions

1. What does the "finished basement" include?
The listing notes a finished basement but does not specify the finish quality, rooms, or ceiling height. A viewing is essential to determine if it's a casual rec space or includes legal bedrooms, a proper bathroom, or a separate entrance.

2. How does the assessment value relate to the asking price?
The municipal assessment is $375,000. It's important to understand that this value is for tax purposes and can differ from current market value. Buyers should compare this figure to the list price and recent sales of similar properties in Betsworth to gauge the market ask.

3. The lot is large, but are there any usage restrictions?
While the lot size is a major feature, local zoning bylaws will dictate what can be built (e.g., garage, addition, shed) or if the lot can be subdivided. Checking with the city planning department is a crucial step for any buyer with future development plans.

4. The home ranks highly for lot size but lower for living space. What does this mean?
This highlights the property's profile: you are purchasing significant land with a modest-sized home. For some, this is ideal (less interior to maintain). For others, it may mean the house feels small relative to the property. Consider your priorities for indoor versus outdoor space.

5. What are the implications of the "detached" garage?
A detached garage offers flexibility and can be ideal for a workshop or to separate vehicle fumes. However, it means crossing outdoors to access your vehicle in winter. Consider the condition of the garage and the walkway to the house.