Property Summary: 182 Lake Street, Birchwood, Winnipeg

Key Characteristics & Appeal

This 1958-built, one-storey home sits on a large, 7,490 sqft lot in Winnipeg's Birchwood neighbourhood. Its primary appeal lies in the combination of generous outdoor space and key updates, most notably a renovated basement. With 972 sqft of living area, the house itself is more compact, suggesting a efficient layout. The property ranks highly for its lot size within the city, placing in the top 14% in Winnipeg, which is a significant asset for gardening, recreation, or future expansion.

The home suits first-time buyers or downsizers looking for a manageable single-level layout with immediate move-in readiness due to the basement renovation. It also appeals to value-conscious buyers who prioritize land over a large interior footprint, seeing the lot as long-term potential. A thoughtful perspective is that while the home's assessed value is modest, its recent 2021 sale price was significantly higher, indicating that the market may value its specific attributes—like the renovated basement and lot size—beyond the official assessment.

Frequently Asked Questions

1. What does a "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this era often means updated finishes, improved livability, and possibly added legal egress. It suggests a functional, finished space for family or guests.

2. How does the large lot size impact costs?
A larger lot can mean higher property taxes relative to similar-sized homes on smaller plots, but it also offers more privacy and utility. Maintenance (lawn care, snow clearing) will also be a consideration.

3. The 2021 sale price is much higher than the current assessed value. Why?
Assessed value is for municipal tax purposes and often lags behind the private market. The sale price reflects what a buyer was willing to pay at that time, likely for the home's specific condition and lot potential.

4. What is the neighbourhood (Birchwood) like?
Birchwood is a mature, established neighbourhood. The high rank for lot size within the area suggests a streetscape with spacious, older properties, offering a settled, green environment.

5. Is the detached garage heated or insulated?
This detail isn't provided. A detached garage from this period may be a basic structure. Its condition and potential for insulation or heating would be important to clarify for those needing workshop or winter vehicle storage.