Property Summary: 245 Thompson Drive

Key Characteristics & Appeal

This is a character home with significant space and potential, situated on a large, desirable lot in Winnipeg's Booth neighbourhood. Its key appeal lies in the combination of a generous, nearly 10,000 sqft property with a pool and a detached garage—a rare find in the city. The home itself is a one and three-quarter storey build from 1918, offering nearly 2,000 sqft of living space, which ranks it among the larger homes in its immediate area.

The property suits two primary types of buyers. First, it’s ideal for a hands-on buyer or family looking for a project. The home has clear vintage charm and a large yard for recreation or gardening, but the unrenovated basement indicates room for modernization and value addition. Second, it appeals to those prioritizing land value and outdoor amenities over a turn-key interior. The pool and the size of the lot itself represent a lifestyle asset and long-term value that is difficult to replicate in newer subdivisions. A less obvious perspective is the home’s assessed value, which is modest relative to its last sale price and lot size, potentially indicating an opportunity in the eyes of the city’s tax assessment—a point for savvy buyers to explore.

Frequently Asked Questions

1. What does "one and three-quarter storey" mean?
This is a classic architectural style where the second floor has slightly less square footage than the main floor, often with sloped ceilings or dormer windows. It typically offers more space and character than a bungalow but a different layout than a full two-storey home.

2. The home sold in 2017 for $320k, but the assessed value is much lower. Why?
Municipal assessed value is used for calculating property taxes and is not a direct reflection of current market value. It is based on mass appraisal techniques and can lag behind actual sale prices, especially after market shifts or if the property has unique features not fully captured by the assessment model.

3. Is the pool a major factor in maintenance?
Yes. An in-ground pool requires seasonal opening and closing, regular cleaning, chemical balancing, and associated utility costs. It is a valued amenity but represents both a lifestyle choice and an ongoing maintenance commitment for the buyer.

4. The lot is large, but is it usable?
At nearly 10,000 sqft, the lot is significantly above average for Winnipeg. This provides ample space for the pool, garage, gardens, and play areas. The rankings show it's in the top 6% of lot sizes city-wide, indicating highly usable and versatile outdoor space.

5. What are the implications of an unrenovated basement?
This means the basement remains in a largely original or utilitarian state. It offers potential for future development (like a rec room or suite, subject to permits) but will likely require significant investment for moisture-proofing, insulation, framing, and finishing. It should be thoroughly inspected for foundational and drainage issues common in century-old homes.