Property Overview

This one-storey home in Varsity View presents a distinct opportunity centered on its generous lot and location. Its primary appeal lies in the combination of a very large, 8,073 sqft property in a mature, established neighbourhood near the University of Manitoba. The house itself, built in 1927 with 1,021 sqft of living space and an unfinished basement, is a straightforward canvas. Its value proposition is clear: you are investing first in the land and the community, with the home offering functional space that awaits your personal touch. This property would suit a buyer looking for a long-term project, whether that's renovating the existing structure or planning for a future new build. It's also a practical fit for those who prioritize ample outdoor space and a quiet, academic-adjacent community over modern finishes and turn-key convenience.

Key Considerations & FAQs

1. What is the true potential here beyond the house?
The standout feature is the lot size, which is significantly larger than many in Winnipeg. This offers rare potential for expansion, extensive gardening, or outdoor living space that is hard to find closer to the city's core.

2. How should I interpret the age and condition of the home?
Built in 1927, the home is a century-old character property. Buyers should budget for and expect updates to major systems (like plumbing, electrical, and insulation) alongside any cosmetic renovations. The unfinished basement provides flexible space but will require investment to finish.

3. What do the ranking percentages actually mean for me?
They highlight the property's competitive standing. Notably, it ranks in the top 11% of Winnipeg for lot size but in the bottom third for building age. This reinforces the narrative: you're acquiring a top-tier piece of land with a home that needs modernization.

4. Is the price primarily for the land?
In a market context, yes. The assessed value and likely listing price reflect the premium for the large lot in a desirable neighbourhood more than the current state of the dwelling. This is common for older homes on substantial plots.

5. Who is the typical buyer in this area?
Varsity View attracts a mix of university staff, students seeking family housing, and long-term residents drawn to its stability and greenery. This property, in particular, would appeal to those with the vision and means to evolve the property over time.