Property Summary: 678 Centennial Street, Winnipeg

Key Characteristics & Appeal

This one-storey home on Centennial Street in the J.B. Mitchell neighbourhood presents a solid, grounded opportunity. Its primary appeal lies in a combination of generous outdoor space and a home that performs well against local benchmarks. The nearly 6,200 sqft lot is a standout feature, placing it in the top 5% for lot size on its street, offering rare potential for gardening, expansion, or simply enjoying ample private space in the city.

The home itself, built in 1955, offers above-average living space for both the street and the neighbourhood. With a renovated basement and a detached garage, it provides practical, flexible living. The assessed value is consistently above average across all comparison levels, suggesting the property is well-regarded in its market context. This isn’t a flashy, fully modernized showhome, but rather a property with strong fundamentals. It would suit a buyer looking for a manageable single-level layout who values a large yard over a brand-new build, or an investor seeking a property with proven stability and the latent value of a significant lot in an established area.

Frequently Asked Questions

1. How recent is the basement renovation?
The listing confirms the basement is renovated but does not specify the year or scope of the work. This is a key detail to request from the selling agent to understand the quality and current condition of the lower level.

2. What is the significance of the "above average" assessed value?
The assessed value is above average for the street, neighbourhood, and city. This generally indicates the municipal assessment views the property favorably compared to peers, often reflecting its larger lot and living area. It’s a useful benchmark, but the final market sale price is determined by current buyer demand.

3. The last recorded sale was in 2019. What does that mean?
The property sold between $305k-$335k in late 2019. This history shows turnover relatively recently, but the price is now primarily a market reference point from a different economic climate. It does not indicate how long the current owners have held the home.

4. What are the implications of such a large lot?
Beyond private outdoor space, a lot in the top 5% for the street can offer long-term advantages. It may provide better drainage, more options for future landscaping or additions (subject to zoning), and a sense of openness uncommon on older streets. It’s a permanent feature that often holds enduring value.

5. The home ranks "around average" for its year built. Should I be concerned?
A 1955 build date is typical for the area. This ranking simply means many homes on the street and in the neighbourhood are from a similar era. It underscores the importance of a thorough inspection to understand the specific condition of this home’s major systems (roof, wiring, plumbing, foundation) which will vary from property to property, regardless of similar age.