Property Overview: 123 Bourkewood Place, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1957, presents a solid opportunity in Winnipeg's Jameswood area. Its primary appeal lies in its above-average living space (1,176 sq ft) and assessed value for the immediate neighbourhood and Jameswood at large, indicating it's a relatively larger and more valuable property within its local context. The home features a renovated basement, adding functional space.

A thoughtful perspective is that this property represents a "big fish in a small pond" scenario on its street. It ranks in the top 10% for size and value among its direct neighbours, suggesting it may offer more house for the money on Bourkewood Place itself. However, its lot size is smaller than most on the street, which could mean less yard maintenance but also less private outdoor space.

This home would suit a buyer looking for a character home from the late 1950s that stands out in its immediate area for its spaciousness. It’s ideal for someone who values interior living space over a large yard and appreciates a home that already has a renovated basement. Given its metrics, it could appeal to both first-time homeowners seeking a step up in size within an established neighbourhood, or downsizers looking for a manageable two-storey with modernized lower-level space.

Section 2: Frequently Asked Questions

1. How does the home’s value compare to the wider city?
While the home ranks above average for value in its neighbourhood, it sits around the city-wide median. This suggests you are paying primarily for the location within Jameswood and the home's relative standing on its street, rather than for a premium city-wide property.

2. What does the "Elite" ranking for year built mean?
The home was built in 1957, which makes it one of the oldest homes on its street and in Jameswood. In this ranking system, "newer is better," so an "Elite" top 2% rank means it is among the first built in the area. This isn't necessarily negative but indicates a mature property with the potential for older-home character and the need for due diligence on aging components.

3. The lot is smaller than others on the street. Is this a major drawback?
The lot is below average for the street but near average city-wide. This could be a drawback if a large yard is a priority. Conversely, it means less landscaping upkeep and may contribute to a lower property tax assessment relative to the home's living area.

4. The last recorded sale was in 2016. What should I consider?
The sale price from nearly a decade ago is not indicative of current value. The more relevant data is the current assessed value and its ranking. The long ownership period suggests the sellers may have deep knowledge of the home and the area, but the property may not have changed hands on the open market in many years.

5. How reliable are the "Top X%" rankings?
These rankings are a useful tool for comparing the home against specific groups (street, neighbourhood, city) on single metrics like size or value. They help identify the home's strengths and weaknesses relative to its peers. However, they don't capture condition, layout, updates, or street appeal, which are vital to a holistic assessment.