Property Overview

This 1975 bi-level home at 231 Edgewater Drive in Winnipeg's Southdale neighbourhood presents a solid, no-fuss opportunity. Its primary appeal lies in its generous 10,175 sqft lot, which is significantly larger than most in the immediate area, offering ample outdoor space and potential. The home itself features a renovated basement and an attached garage. While the living area is modest compared to some neighbours, the property metrics suggest a well-situated lot in a mature community. It would suit a buyer looking for a ground-up project on a sizable parcel, a family valuing private yard space over a large interior footprint, or an investor attracted by the land value and the foundational work already done on the basement.

Key Details & FAQs

Key Characteristics & Appeal

• Spacious Lot in a Mature Area: The over 10,000 sqft lot is the standout feature, ranking in the top 11% for size in Southdale. This offers rare privacy and room for gardens, play, or expansion.
• Renovated Foundation: The updated basement is a key functional advantage, providing immediate usable space without that major project cost.
• Established Neighbourhood Context: Built in 1975, it sits among peers. The assessed value is consistent with similar homes nearby, indicating stability rather than outlier pricing.
• Ideal Buyer Profile: This property suits a practical buyer who sees potential in land and structure. It's a match for those willing to live in a functional space while planning future upgrades, or for whom a large, private yard is a higher priority than a sprawling floor plan.

Frequently Asked Questions

1. How does the lot size compare to nearby homes?
The lot is exceptionally large for the street and neighbourhood, placing it in the top 11% in Southdale for land area. This is a defining characteristic of the property.

2. Is the living space small for the area?
At 1,162 sqft, the living area is below the neighbourhood average. However, this is balanced by the expansive lot and the renovated basement, which adds functional space.

3. What does the "renovated basement" typically mean for a home of this age?
In a 1975 bi-level, a renovated basement often means finished living areas, updated flooring, and improved lighting, transforming what is often a raw space into habitable rooms like a family room or additional bedrooms.

4. The home is 51 years old. What should I be mindful of?
While systems like the roof, windows, and furnace may have been updated over time, a pre-purchase inspection is crucial to assess the condition of original components like plumbing, electrical, and the foundation.

5. How does the assessed value relate to the likely selling price?
The assessed value ($45,200) is for municipal tax purposes. The selling price will be determined by the market, but nearby comparable sales with similar assessments suggest a stable value range for well-maintained homes in Southdale.