248 Princeton Boulevard

Property Overview

This 1956-built, one-storey home in Varsity View offers a unique proposition centered on land and location. Its primary appeal lies in its exceptionally large, 12,036 sqft lot, which places it in the top tier of properties locally for outdoor space and potential. The home itself is a modest 980 sqft bungalow with a finished basement and a detached garage. Its strongest suit is its position within a sought-after neighborhood, ranking highly for lot size and assessed value within its community and city-wide. This property would suit a buyer who values the long-term asset of a large lot in a prime area over immediate move-in luxury. It's ideal for someone with renovation or expansion plans, or who simply desires significant private outdoor space close to the University of Manitoba. It may also appeal to an investor recognizing the underlying land value in a stable, desirable community.

Frequently Asked Questions

1. What does the high lot ranking actually mean?
It means this property's land size is larger than 90% of homes in Varsity View and 96% of all homes in Winnipeg. You are purchasing a scarce asset: a very large parcel in a mature, central neighborhood.

2. The house is older and smaller than average. What are the implications?
The 70-year-old home will likely require ongoing maintenance or a thoughtful modernization plan. The smaller living footprint (below average for the area) emphasizes that you are primarily buying the land; the house may need investment to suit contemporary needs.

3. How does the "finished basement" factor into the living space?
While it adds functional space, the 980 sqft listed is for the main floor only. The finished basement provides extra room but is not included in the official living area calculation, which is common for older bungalows.

4. The rankings for "newness" are low. Is this a concern?
Not necessarily, as it reflects the property's honest age. The high rankings for lot size and value in a mature neighborhood suggest the market recognizes and rewards the land's worth despite the older dwelling.

5. Who is the typical buyer for this type of property?
It often attracts three types: the renovator looking for a prime location to customize, the long-term holder valuing land appreciation, or a family seeking a large yard in a great community, willing to grow into or update the home over time.