362 Thompson Drive

Property Overview & Key Characteristics

This well-situated one-storey home in Winnipeg's Booth neighbourhood sits on a notably large, mature lot of over 8,600 square feet, offering more outdoor space than most properties on its street and in the wider city. Built in 1960, the home features a renovated basement, adding valuable finished living space to its 1,173 square foot footprint. While it does not have a garage or pool, its appeal lies in its solid foundation, generous land parcel, and the recent modernization below ground. The property’s recent sale price significantly exceeds its assessed value, indicating strong market interest and potential perceived value beyond the official valuation.

This home would suit a buyer looking for a manageable single-level layout with room to grow, either in the finished basement or on the expansive lot. It’s ideal for those who prioritize outdoor space and garden potential over attached parking or newer construction. The neighbourhood rankings suggest a location that is well-established and desirable within its immediate context, appealing to someone seeking a quiet, settled community.

Frequently Asked Questions

1. How does the large lot size benefit a buyer?
Beyond simple privacy and space for recreation or gardening, a lot of this size in an established neighbourhood is a long-term asset. It offers potential for future additions like a garage, workshop, or expanded outdoor living areas that many newer subdivisions cannot match.

2. What does a "renovated basement" typically mean for a 1960s home?
While specifics should be verified, this usually indicates updated living space that addresses common issues in older homes, such as improved moisture control, insulation, and modernized finishes. It effectively adds usable square footage for family, entertainment, or a home office.

3. Why is there such a gap between the recent sale price and the assessed value?
Assessed value is for municipal tax purposes and often lags behind the current market. A sale price well above assessment can reflect buyer competition, recent renovations not yet captured in the assessment, or the premium value buyers place on the large lot and specific location.

4. What are the practical implications of not having a garage?
Buyers should budget for alternative parking solutions and consider the impact of Manitoba winters. However, the large lot does provide clear space to potentially add a garage or carport in the future, subject to local bylaws.

5. How should I interpret the neighbourhood ranking percentages?
The rankings show how this property compares to others in the area for metrics like lot size and year built. For example, ranking in the top 81% for lot size in Booth means it has more land than the vast majority of neighbourhood properties, a key advantage. Conversely, its older age is typical for the area.