5418 Rannock Avenue

Property Overview & Key Characteristics

This is a well-established, single-storey home in Winnipeg's Roblin Park neighbourhood, built in 1972. Its primary appeal lies in its generous, mature lot of over 7,600 square feet—a significant asset in a city setting—combined with the practicality of a finished basement and a split garage. The home itself offers a manageable 1,043 sqft of living space above grade.

The property presents a compelling value proposition, as its current assessed value ranks notably higher than most homes in Winnipeg and on its own street. This suggests a solid underlying asset value relative to its location. It would particularly suit first-time buyers or downsizers looking for a low-maintenance, single-level layout on a private, spacious lot, or an investor/renovator who sees potential in the well-sized property. Its strong lot size and assessment rankings offer a less obvious form of security: a buffer against market fluctuations that often favours properties with standout fundamental attributes.

Frequently Asked Questions

1. How does the finished basement affect the living space?
While the main floor is listed at 1,043 sqft, the finished basement adds additional functional living area. Buyers should clarify the basement's layout, ceiling height, and finish quality to understand the home's total usable space.

2. What does the "ranking" data mean for a buyer?
These rankings compare this property to others in its immediate area. For example, ranking in the top 30% for assessed value in Winnipeg indicates the city assesses it more highly than 70% of other homes, which can be a marker of established equity and municipal valuation confidence.

3. The home was built in 1972. What should I be aware of?
As with any home of this era, the condition of major systems (roof, windows, plumbing, electrical) and potential for original materials like aluminum wiring or single-pane windows should be investigated during a professional home inspection.

4. The lot is large. What are the implications?
The 7,605 sqft lot offers excellent outdoor space for gardening, recreation, or future expansion (subject to zoning). It also means higher maintenance (lawn care, snow clearing) and potentially higher property taxes compared to homes on smaller lots in the same area.

5. The last sale was in 2021. Is that relevant?
The 2021 sale price provides a benchmark for past market value. Comparing it to the current assessment and asking price can help gauge the market's movement and the seller's potential equity position over that period.