5825 Rannock Avenue

Property Summary: 5825 Rannock Avenue, Winnipeg

Key Characteristics & Appeal

This is a modest, one-storey bungalow built in 1973, situated on a large, 6,009 sqft lot in the Betsworth neighbourhood. Its key features include a finished basement and a functional 988 sqft of living space. The property’s primary appeal lies in its value and potential. With an assessed value of $325,000, it presents an accessible entry point into the Winnipeg market. The generous lot size is a significant asset, offering ample outdoor space and future possibilities that are rare for the price point. The home suits first-time buyers seeking a foothold with room to grow, or practical investors looking for a land-value proposition. Its rankings indicate it’s a competitively priced property within the broader city (beating 69% of Winnipeg homes on lot size), though it is more dated and compact compared to many in its immediate area. The appeal is grounded in fundamentals: space, price, and the opportunity to add value over time.

Frequently Asked Questions

1. What does the "ranking" data actually mean?
The rankings show how this property compares to others in specific categories. For example, its lot size ranks in the top 31% city-wide, meaning it's larger than most. Conversely, its living area is smaller than 72% of Winnipeg homes, providing clear context on space versus land value.

2. Is the finished basement included in the 988 sqft living area?
Typically, the listed "living area" (988 sqft) refers to above-ground, finished space. The finished basement is an additional area, which adds functional living space without increasing the official square footage metric.

3. What are the implications of a 1973 build year?
While well-maintained, a home of this age will likely have original or older major components, like windows, roof, and mechanical systems. Budgeting for updates and a thorough inspection are wise. On a positive note, it often comes with a larger lot than newer builds.

4. There's no garage. What are the parking options?
The property listing indicates no garage. Buyers should verify on-site parking options, such as a driveway or pad, and review any local street parking regulations.

5. The assessment is $325K, but what is the likely selling price?
The assessed value is for municipal tax purposes and is not a direct indicator of market value. The sale price will be determined by current market conditions, the home's condition, and buyer demand. It serves as a useful benchmark but should not be relied upon as an expected sale price.