5920 Rannock Avenue

Property Overview & Key Characteristics

This Betsworth bi-level home sits on a generous 8,156 sqft lot, offering a solid foundation in a well-established neighbourhood. Built in 1974, the 1,158 sqft residence features a finished basement, providing flexible living space. Its key appeal lies in the combination of a larger-than-average lot—ranking in the top 11% for size across Winnipeg—and a home that presents a practical, value-oriented opportunity. The property’s overall assessed value ranks higher than most in the city, suggesting a strong underlying asset relative to its footprint.

This home would suit first-time buyers or practical-minded investors looking for a property with land potential in a mature area. It’s also a fit for those who prioritize lot size over a newer build or premium finishes, seeing value in the space to grow, garden, or simply enjoy more outdoor privacy than typical modern lots allow. The finished basement adds immediate utility for a growing family or a home office setup.

Frequently Asked Questions

1. What is the significance of the property rankings provided?
The rankings compare this home against others on its street, in Betsworth, and across all of Winnipeg for metrics like lot size, age, and assessed value. They show this property’s standout feature is its lot size, which is larger than 89% of Winnipeg lots, while the home itself is more average in age and living space for its immediate area.

2. Is the lack of a garage a major drawback?
For some buyers, yes. However, the substantial lot size presents a clear opportunity to add a garage or workshop, subject to local bylaws. This is a trade-off: you gain land with future potential instead of a pre-built structure.

3. What does a “finished basement” in a 1974 bi-level typically mean?
It usually means developed living space, but finishes and ceiling height may reflect the era. It’s wise to clarify the extent of the finish, check for proper permits, and assess moisture control—a critical point in older homes.

4. The home is older. What should I be mindful of?
Built in 1974, major systems like roof, windows, plumbing, and electrical may be at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and prioritize any updates, balancing the purchase price with potential renovation costs.

5. How does the assessed value relate to the listing price?
The municipal assessment of $391,000 is for tax purposes and indicates the city’s valuation relative to others (it ranks higher than 63% in Winnipeg). The listing price is set by the seller. Comparing the two figures, along with recent sales of similar homes, helps gauge the market ask.