Property Overview

This 1955-built, one-storey home in Varsity View offers a unique proposition centered on its expansive lot and established neighborhood. Its primary appeal lies in the exceptional 13,585 sqft property, which ranks in the top 3% for size across Winnipeg, providing rare potential for gardening, expansion, or simply enjoying generous private outdoor space. With a finished basement and a split garage, the 972 sqft home presents a practical, low-maintenance footprint. The property suits buyers looking for a land-value play in a prime area, whether they are long-term owners wishing to customize or investors recognizing the irreplaceable lot size. It’s particularly suited for those who value outdoor space over a large interior and are comfortable with a home that has good "bones" but may require updating to match its premium land value.

Key Considerations & FAQs

1. What does the "ranking" data actually mean for me?
   The rankings show the home's competitive standing. Its lot size is a major asset (top 3% in Winnipeg), while the house itself is smaller and older than most in the area. This highlights a trade-off: you're purchasing a premium piece of land with a modest, vintage home on it.

2. The assessed value is significantly higher than the 2021 sale price. Is that a concern?
   The increase in assessed value to $433,000 from the 2021 purchase price of $348,000 reflects market changes and the city's valuation of the property, particularly the land. It sets a baseline for property taxes but does not dictate market price; however, it underscores the perceived value of the lot.

3. Is the smaller living space (972 sqft) a limitation?
   It depends on your needs. The finished basement effectively doubles the usable space, making it functional for a small family or couple. The appeal here is efficient living on a large lot, not a large interior.

4. Who would this property NOT be ideal for?
   It may not suit buyers seeking a move-in-ready, modern home or those who prioritize large, updated interior spaces over outdoor potential. The home's age suggests future maintenance investments are likely.

5. What's the real opportunity here?
   The opportunity is long-term. You are acquiring an asset—the large lot—in a sought-after neighborhood that is inherently scarce. The existing home provides immediate utility, but the property's greatest value may be realized through future renovation, expansion, or simply by holding a sizable piece of a well-located community.