Property Overview: 785 Setter Street, Heritage Park, Winnipeg

Key Characteristics & Appeal

This two-storey home in Heritage Park is distinguished by its generous scale and premium positioning within its community. Its primary appeal lies in offering substantial space, both indoors and out, that significantly exceeds local norms. With 2,525 sqft of living area, the home ranks in the top 3% on its street and top 1% within the entire Heritage Park area, providing room that is rare for the neighbourhood. This is complemented by an above-average lot size of over 7,100 sqft, offering ample outdoor privacy and potential.

The home’s assessed value places it in the elite tier for the immediate area, suggesting a property that is both well-appointed and a standout investment. A renovated basement and attached garage add practical appeal. Built in 1985, it is a newer construction compared to many Winnipeg homes, potentially meaning fewer immediate concerns with aging infrastructure.

This property would best suit buyers who prioritize space and established neighbourhood character but desire a home that requires less updating than much older stock. It’s ideal for growing families needing multiple bedrooms and living areas, or for those who value a larger yard in a mature setting. It also represents a strong option for value-conscious buyers looking for a property that leads its peer group in key metrics, offering a combination of immediate livability and long-term equity in a desirable location.

Frequently Asked Questions

1. How does the living space compare to nearby homes?
Exceptionally well. At 2,525 sqft, the living area is notably larger than the average home on Setter Street (~1,542 sqft) and in the wider Heritage Park area (~1,319 sqft), placing it in the top 1-3% of homes locally.

2. What is the significance of the lot size?
The 7,101 sqft lot is above average for the street and neighbourhood, offering more yard space than most comparable properties. This provides greater privacy, landscaping options, and room for outdoor activities or expansions.

3. The assessed value seems high for the area. Why?
The assessed value ranks in the top 1% for Heritage Park, reflecting the home’s combination of larger square footage, a bigger lot, and a renovated basement. It indicates the property is considered a premium offering within its immediate market.

4. When was it last sold and for approximately how much?
Based on available data, the home was sold in March 2021. The exact sale price is not publicly listed, but the recorded range at that time was between $54.50k and $57.50k.

5. What are the less obvious considerations for this property?
While the home is newer than many in Winnipeg (built 1985), prospective buyers should still consider the specific condition and age of major systems like the roof, HVAC, and windows. Additionally, its status as a top-tier property in the area means property taxes will likely reflect its higher assessed value. The very close proximity of neighbouring homes, typical for established neighbourhoods, is also a factor for privacy.