Property Overview: 504 Buchanan Boulevard, Winnipeg

Key Characteristics & Appeal

This is a compact, single-storey home built in 1962, situated in Winnipeg's Glendale neighborhood. Its primary appeal lies in a significant and desirable feature: an exceptionally large lot. At over 7,200 square feet, the land parcel ranks in the top 6% on its own street and the top 15% citywide, offering substantial outdoor space that is rare for the area. The home itself, at 912 sq ft of living area, is modest and below the local average in size, but it benefits from a renovated basement, adding functional space. The assessed value is positioned around the average for the street, suggesting a stable, mid-range valuation in its immediate context.

This property would best suit a specific type of buyer: someone who prioritizes land potential over a large existing footprint. It’s an ideal candidate for a first-time buyer, a downsizer, or an investor looking for a manageable structure on a lot with room for gardens, expansion, or future redevelopment. Its value proposition is less about the current home's grandeur and more about the underlying asset—the land—and the opportunity it presents. The renovated basement adds practical, modern living space, making it move-in ready while the large yard offers a blank canvas.

Frequently Asked Questions

1. Is the home's smaller living area a drawback?
While the 912 sq ft living area is below the neighborhood average, the renovated basement provides additional finished space. The trade-off is intentional: you gain a much larger-than-average yard, which for many buyers offers more long-term value and utility than extra indoor square footage.

2. What does the assessed value tell me about the price?
The assessed value of $28.7k is around average for Buchanan Boulevard. This indicates the property is not an outlier on its street and is valued consistently with its immediate peers, providing a stable benchmark. Note that assessed value for tax purposes is not the same as market value.

3. How does the large lot size impact this property?
The lot size of 7,201 sq ft is a standout feature. It offers privacy, space for recreation, gardening, or storage that is uncommon in the city. It also provides potential for future additions like a garage, workshop, or even a significant home expansion, subject to zoning.

4. The home was built in 1962. What should I consider?
Built in the early 1960s, the home is of average age for the area. While the basement has been renovated, a thorough inspection is recommended to review the condition of original core components like the roof, wiring, plumbing, and foundation, which may be due for updates.

5. Where can I find the exact historical sale prices?
Exact sold prices are not publicly displayed in detail here. The listing service offers to provide the precise sale history via email upon request, which they manually handle, typically by the end of the same business day.