5901 Rannock Avenue

Property Overview

This 1974 three-level split home on a large 7,584 sqft lot in Betsworth presents a solid, value-oriented opportunity. Its key appeal lies in its established neighborhood setting and a layout that offers good separation of living spaces. The home features 1,157 sqft of living space and a finished basement, adding functional area. A split garage provides practical storage.

The property's standout characteristic is its strong value positioning. With an assessed value of $438,000 and a 2022 sale at $505,000, it ranks well above average for Winnipeg in terms of value, placing in the top 28% and 17% respectively. The lot size is also a significant asset, ranking in the top 13% city-wide. This combination suggests a property that offers more space for the dollar compared to many alternatives. It would suit practical buyers looking for a move-in-ready home with room to grow outdoors, or investors attracted by its apparent value retention and steady performance in a mature community.

Frequently Asked Questions

1. What is the significance of the "rankings" provided?
The rankings compare this property against similar ones on the same street, in the Betsworth community, and across all of Winnipeg for metrics like lot size, age, and assessed value. They are a quick way to see how this home stacks up competitively in key areas.

2. The home was built in 1974. What should I consider?
While the home is well-maintained, being over 50 years old means a thorough inspection of major systems (roof, plumbing, electrical, foundation) is essential. The positive trade-off is the typically larger lot size and established trees not found in newer subdivisions.

3. How does the 2022 sale price compare to the current assessment?
The home sold for $505,000 in late 2022, which is approximately 15% higher than its current $438,000 assessment. This gap could reflect market cooling, but it's important to note the assessment is for tax purposes and not necessarily the current market value.

4. What are the pros and cons of a three-level split design?
Pros include defined separation between living, sleeping, and recreational areas, which can be great for families. The main cons are the frequent short flights of stairs, which can be less suitable for those with mobility concerns, and sometimes segmented living spaces.

5. The lot is large, but what about outdoor maintenance?
A lot of nearly 7,600 sqft offers great space for gardens, play, or expansion. Buyers should realistically budget time or money for lawn care, landscaping, and seasonal upkeep like snow removal on the sizable driveway.