240 Wexford Street

Property Overview

This 1972 bi-level home at 240 Wexford Street offers a practical and affordable entry into Winnipeg's established Varsity View neighbourhood. Its key appeal lies in the combination of a large, 5,047 sqft lot and a fully finished basement, which expands the living space beyond the 875 sqft main floor. As a bi-level, it provides a distinct separation of living and sleeping areas. The home suits first-time buyers or investors looking for a lower-maintenance property with land potential in a central, mature community. Its value is underscored by steady appreciation since its 2016 sale.

A more nuanced perspective: while its interior size ranks below average locally, the expansive lot is a significant asset in this inner-city area, offering rare space for gardening, play, or future expansion. The home’s rankings suggest it is a competitively priced "middle-of-the-road" property for the broader Winnipeg market, making it a sensible, no-fuss option rather than a standout luxury purchase.

Frequently Asked Questions

1. What does the ranking data actually mean?
The percentages show how this property compares to others. For example, its land size ranks in the top 5% on its street, meaning the lot is larger than most neighbours'. Conversely, its living area is smaller than about 85% of homes on the street.

2. Is the finished basement included in the 875 sqft living area?
No. The listed 875 sqft is the above-ground living area. The finished basement provides additional, separate space that is not typically counted in the official square footage.

3. What are the implications of a "Split-Level Garage"?
This typically means a detached garage shared with a neighbouring property, where each owner owns their half. It's a cost-effective solution but requires good communication with the neighbour regarding maintenance and shared walls.

4. How significant is the price increase from the 2016 sale?
The assessed value has risen from $316,000 to $384,000 over eight years. This reflects general market trends and suggests stable, modest growth for the area.

5. Who would this property NOT suit?
Buyers seeking a large, modern interior or a turn-key home may find it limiting. The floor plan and finishes are characteristic of its era, and the living space is compact. It's best for those who value location and lot size over expansive indoor square footage.