231 Mclean Street

Property Overview

This 1992-built, single-storey home in Varsity View offers a practical layout with 1,138 sqft of living space. Its primary appeal lies in its generous 8,075 sqft lot, which is notably larger than most in the area, providing significant outdoor space and future potential. The home has an unfinished basement, allowing buyers to customize the space to their needs. While it lacks a garage or pool, its strong rankings are noteworthy: it sits in the top 11% of Winnipeg for lot size and the top 24% for the age of the property, indicating a desirable and well-established setting. The assessed value of $372,000 is competitive for the neighbourhood.

This property would suit first-time buyers or downsizers looking for a manageable single-level home with room to grow outdoors. It’s also a solid candidate for a long-term holder who values land size over a finished product, as the large lot and unfinished basement present clear opportunities for expansion, gardening, or customization.

Key Questions for Consideration

1. What does the "unfinished basement" actually entail?
   It's essential to understand the current state of the basement—its ceiling height, moisture control, and rough-in points for plumbing or electrical—as this will directly impact the cost and scope of any future development.

2. Given the large lot, what are the possibilities for additions or outbuildings?
   The sizable plot is a major asset. Buyers should investigate local zoning bylaws to explore the feasibility of adding a garage, a garden suite, or expanding the home itself.

3. How does the lack of a garage affect daily life and vehicle storage in this neighbourhood?
   Practical considerations for parking, especially during Winnipeg winters, will be important. Assessing driveway space and on-street parking availability is recommended.

4. The home ranks higher for lot size and age than for living area. What does this trade-off mean?
   This highlights a property that prioritizes land and location over interior square footage. It's ideal for someone who values outdoor space and the potential to add value over immediate, ample indoor living areas.

5. Why is the assessed value notably lower than typical sale prices in this area?
   Municipal assessments often lag behind market trends and are calculated for tax purposes, not sale price. It's a useful benchmark, but the final sale price will be determined by current market conditions and the home's specific appeal.