58 Norlorne Drive

Property Summary: 58 Norlorne Drive, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated Betsworth home is a classic 1979-built bungalow offering comfortable, single-level living on a spacious 6,751 sqft lot. Its key features include a fully finished basement and an attached garage. With 1,153 sqft of living space, it presents a practical and manageable layout.

The primary appeal lies in its established neighbourhood setting and its strong positional value. The data indicates the property ranks highly within Winnipeg overall, particularly for its above-average lot size (top 19%) and assessed value (top 33%), suggesting a solid foundation of equity. It suits buyers looking for a move-in ready home without the premium of a new build, such as first-time homeowners, downsizers seeking single-level convenience, or investors attracted to a property with proven value growth since its last sale. A thoughtful perspective is that while its interior size ranks moderately, the significant lot size offers valuable outdoor space and future potential that is increasingly rare, providing a balance of immediate usability and long-term asset value.

Section 2: Frequently Asked Questions

1. How does the property’s age affect its value?
Built in 1979, the home is in the mature stage where major components may need monitoring or updating. However, its assessed value ranks in the top third of Winnipeg, indicating the market recognizes the value of its location, lot size, and condition despite its age.

2. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate street, wider community, and all of Winnipeg. For example, ranking in the "top 19%" for lot size in Winnipeg means over 81% of city lots are smaller, a key competitive advantage.

3. The last sale was in 2018 for $305,000; is the current assessment reasonable?
The current assessed value of $408,000 reflects market growth over six years. Its assessment now ranks higher (top 33% in Winnipeg) than its 2018 sale price did at the time (top 64%), suggesting its value increase has outpaced many other properties.

4. Who would this home not be suitable for?
It may not suit buyers seeking a brand-new, low-maintenance property or those requiring extensive, modern open-concept living space, as the layout and some systems reflect its era.

5. Is the finished basement included in the listed living area?
Typically, municipal living area (sqft) calculations in Winnipeg do not include below-grade space. The 1,153 sqft likely refers to the main and upper levels only, with the finished basement providing additional bonus space not reflected in that figure.