Property Overview

This 1963-built, one-storey home on a large 7,754 sqft lot in Winnipeg's Booth neighbourhood presents a solid, value-oriented opportunity. Its primary appeal lies in the combination of a renovated basement and a very generous, private lot that ranks in the top third for size locally. The home itself offers a practical 1,301 sqft of living space. The property suits first-time buyers seeking a manageable single-level layout with immediate "move-in" readiness from the basement renovation, or investors/value-seekers attracted by the below-average assessed value and the significant land component. A thoughtful perspective is that while the home's age and interior size are average for the area, the lot size is a standout feature that offers long-term potential, whether for gardening, expansion, or simply as a rarity in the urban landscape. The 2020 sale price suggests a history of being a good value purchase, which may continue to be its defining characteristic.

Key Questions & Answers

1. What does the ranking data actually tell me?
It contextualizes the property against its immediate neighbours and the wider city. For example, the lot size ranks highly (top 32% in the neighbourhood), which is a significant positive, while the building's age is older than most on its street. This helps identify the property's strengths (land) versus its potential drawbacks (older structure).

2. The assessed value seems low. Is that a concern?
Not necessarily. A lower assessed value compared to similar homes can mean lower property taxes, which is a benefit. It often reflects the home's older age and modest interior size relative to its large lot. The value is likely in the land and the renovated basement, not in high-end finishes or square footage.

3. Who would this property not suit?
It may not suit buyers looking for a modern, turn-key home throughout, as the main level may require updates. It's also not for those who dislike yard maintenance, given the substantial lot size. The detached garage, while a plus, may be less appealing for those seeking the convenience of an attached garage in Winnipeg winters.

4. What is the likely condition given the data?
The renovated basement suggests key modernization work has been done. However, as a 63-year-old home, a buyer should budget for ongoing maintenance and potential updates to major aging components (like roof, windows, plumbing) and the original main floor.

5. Why is the lot size important if the house isn't huge?
A large lot in an established neighbourhood is a finite asset. It provides privacy, space for recreation or gardening, and future potential (like an addition, garage workshop, or even subdivision, subject to zoning). It's a feature that cannot be easily replicated and often appreciates independently of the house itself.