Property Overview: 74 Malone Street, Winnipeg

Key Characteristics & Appeal

This well-established one-storey home sits on a generous 6,472 sqft lot in the Betsworth neighbourhood. Built in 1976, its key features include a renovated basement and a detached garage. The property presents a solid, grounded opportunity, with its primary appeal lying in its established setting and the value of its land. The lot size is notably above average for its street (top 12%) and neighbourhood, offering ample outdoor space and potential.

It would suit practical buyers looking for a foothold in a mature community without the premium of a new build. This includes first-time homeowners comfortable with a property that has a functional history, or investors attracted by the lot size and the value demonstrated by its assessed price being significantly higher than its last sale price in 2021. A thoughtful perspective is that while the living space is average for the area, the above-average lot provides a tangible asset—room for gardens, play, or future expansion—that newer subdivisions often lack. It’s a home that offers more outside than in, appealing to those who value private outdoor space.

Frequently Asked Questions

1. What does the ranking data (e.g., "Top 12% in same street") actually mean?
This shows how the property compares to immediate benchmarks. For example, its lot size is larger than 88% of other lots on Malone Street, a strong point. Conversely, its year of build is older than 91% of homes on the street, which is typical for a mature area.

2. Why is the current assessed value ($41.80k) higher than the 2021 sale price ($39.00k)?
Municipal assessments for tax purposes can increase due to market trends, renovations (like the basement update noted), and overall property value changes in the area. It indicates the city’s view of its value has risen since the last sale.

3. Is the renovated basement a legal suite?
The listing states the basement is "renovated" but does not specify it as a legal, rentable suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.

4. What is the neighbourhood like?
The data places the property in the top third of its neighbourhood for lot size, suggesting a well-regarded, established area with larger properties. Checking nearby sold listings (like 78 Malone Street) can provide more context on the community's character and values.

5. How does the living space compare to a typical home?
At 1,262 sqft, the living area is near the median for the neighbourhood and city. It indicates a comfortable, average-sized family home, with the property’s standout feature being its land, not its square footage.