Property Overview: 317 Ronald Street

Key Characteristics & Appeal

This well-situated bi-level home in Winnipeg's Booth neighbourhood offers a blend of space, value, and potential. Its most defining feature is the generous 8,395 sqft lot, which places it in the top quarter of the neighbourhood for land size. This presents a significant opportunity for gardening, outdoor living, or future expansion. The home itself has a renovated basement and a detached garage, adding functional living and storage space. Built in 1962, it appeals to buyers seeking a solid, established property in a mature area.

The appeal lies in its value proposition and versatility. With a modest assessed value and a living area of 842 sqft, it represents an accessible entry point into homeownership, particularly for first-time buyers or investors. The large lot is a standout asset not fully reflected in the current valuation, offering a "blank canvas" element. It would suit a practical buyer who prioritizes land size over a large existing footprint, someone comfortable with a home that has good bones and a renovated basement but may benefit from further updates. It's also a sensible option for an investor looking for a property with strong land value and rental potential from the basement suite.

Frequently Asked Questions

1. What does the "rank by area" statistic mean for the lot size?
The ranking indicates this property's lot is larger than 77% of others in the Booth neighbourhood and larger than 90% of lots across all of Winnipeg. This is a key advantage, offering more outdoor space and potential than most comparable listings.

2. How does the recent sale history inform the current price?
The property last sold in June 2021 for $39,500, which is close to its current assessed value of $36,900. This suggests a stable, value-based market for the home in its current condition. The significant sale price in 2019 ($360k) likely reflects a very different market or property state and may not be a relevant comparison today.

3. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify if it is a legal secondary suite. This is a crucial point to verify with the seller and the city, as it impacts rental potential, insurance, and value.

4. What are the implications of the living area size ranking?
While the lot is very large, the 842 sqft living area is smaller than 91% of homes in the neighbourhood. This confirms the property is a more compact home on a spacious lot, ideal for those who value outdoor space or have plans to expand the living area in the future.

5. How does the year built (1962) affect this home?
A home of this age will likely have original components, like windows, roof, or major systems, that are at or beyond their typical lifespan. A thorough inspection is essential, but the renovated basement is a positive update. The established neighbourhood and mature lot are benefits of an older property.