Property Overview: 559 Bruce Avenue, Winnipeg

Key Characteristics & Appeal

This 1964-built, three-level split home sits on a large, 6,064 sqft lot in the Booth neighbourhood. Its key features include a renovated basement and a detached garage. With 1,118 sqft of living space, the home offers a practical layout over multiple levels.

The primary appeal lies in its established setting and recent market activity. The property sold in January 2025 for $41,100, a figure that ranks highly compared to recent sales on its street and in the wider neighbourhood, suggesting it was seen as a value purchase. The lot size is a significant asset, ranking in the top 18% for the street, offering ample outdoor space relative to the area. While the home itself is of average size for the locale, the combination of a renovated basement, a large yard, and a detached garage presents a solid foundation for comfortable living or future updates.

This property would suit a practical buyer looking for an entry point into a mature neighbourhood. It’s ideal for someone who values private outdoor space over brand-new finishes and is comfortable with a home that has good bones but may benefit from personalization over time. The recent sale also makes it a relevant case study for buyers or investors analyzing value trends in this specific part of Winnipeg.

Frequently Asked Questions

1. What does the "ranking" data actually tell me about this property?
The rankings compare this home against others on its street, in the neighbourhood, and across Winnipeg for metrics like lot size and year built. For instance, its lot size ranks very high on its street, a big plus, while the building age is older than most on the block. This helps you understand its relative strengths and weaknesses within a very localized context.

2. The assessed value is much lower than the recent sale price. Why?
Municipal assessed values in Manitoba are often calculated for tax purposes and can lag behind current market conditions. The sale price of $41,100 is a more accurate reflection of its recent market value, and its high ranking (top 7% on the street) indicates it was a strong sale price for the area.

3. Is the "renovated basement" a full legal suite?
The provided details confirm a renovated basement but do not specify if it is a legal, separate suite. This is a critical point to verify with the listing agent or through a property disclosure statement, as it affects value, insurance, and potential rental income.

4. What are the potential implications of a 1964 build date?
While the basement has been renovated, a home from this era may have original components like plumbing, electrical, windows, or the roof nearing the end of their service life. A thorough inspection is advised to budget for any necessary updates.

5. The home sold very recently. Why is it back on the market?
This summary is based on the sale record from January 2025. Its current status (whether it is actively for sale again or this is historical data) is not indicated here. You would need to check the current listing status to see if it is available.