565 Municipal Road

Property Overview: 565 Municipal Road, Winnipeg

Key Characteristics & Appeal

This well-established bungalow sits on a large, nearly 9,000 sqft lot in the Betsworth area. Built in 1974, the home offers 1,337 sqft of living space, a finished basement, and an attached garage. Its standout feature is the exceptional lot size, which ranks in the top 9% of all properties in Winnipeg, offering significant space and privacy that is increasingly rare.

The appeal lies in its proven value and generous outdoor space. A 2023 sale at $568,000, well above the current assessed value, suggests strong market confidence and potential. The home suits practical buyers looking for a solid, single-level layout with room to grow outdoors. It's ideal for those who value a large yard for gardening, recreation, or future expansion over a brand-new build. The rankings indicate a property that is more spacious and valuable than most in the city, yet typical for its own neighborhood—offering a balanced entry into a mature community without the premium of a trendy locale.

Frequently Asked Questions

1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Betsworth, and across all of Winnipeg. For example, being in the "top 9%" for lot size city-wide highlights its most distinctive asset: an unusually large yard.

2. Why was the 2023 sale price higher than the current assessment?
Municipal assessments for taxation often lag behind current market values. The recent sale price is a stronger indicator of what buyers were recently willing to pay, reflecting market conditions at that time.

3. Is the finished basement included in the 1,337 sqft living area?
Typically, municipal living area (sqft) refers to above-ground space. The finished basement is an additional bonus area, adding functional space like a family room or extra bedrooms.

4. What are the implications of a 52-year-old home?
It offers mature landscaping and established neighborhoods. Buyers should budget for updates to aging components like roofing, windows, or mechanical systems, which is common for homes of this era.

5. Who would this property not suit?
It may not fit buyers seeking a modern, open-concept layout or who prefer a low-maintenance property. The size and age suggest a buyer comfortable with some upkeep and potential renovations to personalize the space.