245 Alcrest Drive

Property Summary: 245 Alcrest Drive, Varsity View, Winnipeg

Section 1: Key Characteristics & Appeal

This is a well-established, single-storey home on an exceptionally large, mature lot in the sought-after Varsity View neighbourhood. Its key characteristic is the generous 11,542 sqft property, which ranks in the top 4% for size across all of Winnipeg, offering rare potential for gardening, expansion, or simply enjoying private outdoor space. The home itself is a manageable 1,370 sqft bungalow with a finished basement and an attached garage, presenting a classic and functional layout.

The appeal lies in a combination of location and land. Varsity View is a prime, central community, and this property offers a slice of suburban space within it. It suits two primary types of buyers: those looking for a solid, move-in ready home with unparalleled yard space in a fantastic location, and visionaries or builders who see the underlying value in the land itself for future renovation or redevelopment. A less obvious perspective is its appeal to multi-generational families; the single-level living is accessible, and the vast lot could accommodate additions like a separate suite or extensive outdoor living areas. The strong rankings in community and city-wide assessments (top 11% and 4% for lot size, respectively) indicate a property that stands out from the typical offering.

Section 2: Frequently Asked Questions

1. What is the true value of such a large lot?
Beyond private enjoyment, a lot of this size in Varsity View is a significant financial asset. It provides flexibility for future projects (like an addition, garage, or garden suite) that smaller lots cannot, and inherently holds value due to its scarcity in the area.

2. Is a 56-year-old home a concern?
The 1970 build date means systems (roof, HVAC, plumbing) may be at or beyond their typical lifespan. A thorough inspection is crucial. However, the home has been maintained, with a finished basement and a stable assessment value well above its 2016 purchase price, suggesting prudent updates.

3. Who would this home not suit?
Buyers seeking a modern, open-concept layout or a low-maintenance property without yard work may find the traditional bungalow style and extensive grounds more of a burden than a benefit.

4. How does the 2016 sale price relate to today's value?
The previous sale at $320,000 eight years ago and the current assessment near $448,000 reflect market appreciation. It also indicates the sellers have likely built substantial equity, which can sometimes provide more flexibility in negotiations than a recent purchase would.

5. What does the "finished basement" entail?
The listing confirms a finished basement but does not specify the extent, layout, or if it includes legal egress windows. This is a key detail to clarify, as it impacts the functional living space and potential for a rental suite.