Property Overview

This 905 sqft home, built in 1978, is a compact and efficient property in Winnipeg's Varsity View neighbourhood. Its primary appeal lies in its exceptional location and proven value stability. The home ranks in the top 2% of its street and the top 0% of both its community and all of Winnipeg for its lot size, suggesting a desirable and potentially rare parcel of land for the area. While the home itself is modest in size and age, its 2022 sale price of $193,000 closely aligns with its current assessed value of $192,000, indicating a stable market entry point. This property would suit first-time buyers, investors seeking a low-maintenance rental in a high-demand academic area, or downsizers prioritizing location over a large living space. A thoughtful perspective is that this home represents the "land value play" in a mature neighbourhood—the appeal is less about the existing structure and more about the underlying property in a prime, established location.

Key Details & FAQs

• Key Characteristics: A 48-year-old, 905 sqft home on a lot that ranks highly for its size within Varsity View. No basement, no garage.
• Primary Appeal: A stable-value entry into one of Winnipeg's most sought-after neighbourhoods, known for its proximity to the University of Manitoba. The excellent lot-size rankings are a standout feature.
• Ideal For: First-time buyers, investors, or downsizers seeking an affordable foothold in a prime location without the upkeep of a larger property.

Frequently Asked Questions

1. What does the lot size ranking actually mean?
The home's lot ranks in the top 0-2% compared to others on its street, in Varsity View, and across Winnipeg. This doesn't specify the exact dimensions but strongly indicates the property sits on a larger-than-typical parcel for this densely built, mature neighbourhood, which can be a significant long-term asset.

2. The home ranks lower for size and value—is that a concern?
Not necessarily. The lower rankings for living area and assessed value (relative to the broader market) reflect that this is a smaller, more modestly priced home. This is precisely what makes it an accessible entry point into an otherwise expensive community.

3. There's no basement or garage. How does that impact living and storage?
This means all living is on a single level, which can be a plus for accessibility. However, it significantly reduces storage and utility space. Buyers should plan for creative storage solutions and consider the cost of renting external storage if needed.

4. The sale price and assessed value are nearly identical. Is that good?
Yes, it suggests the market price is well-established and not inflated. It provides a clear and recent benchmark, reducing uncertainty about the home's current market value.

5. Why is Varsity View a desirable neighbourhood?
Its premier draw is proximity to the University of Manitoba, creating consistent demand from students, faculty, and staff. It's a mature, established community with a quiet, residential feel while offering easy access to major routes and amenities.