251 Laxdal Road

Property Summary: 251 Laxdal Road, Varsity View, Winnipeg

Key Characteristics & Appeal

This is a classic, no-frills 1940s bungalow on a generous 6,002 sqft lot in the established Varsity View neighbourhood. With 735 sqft of living space, no basement, and no garage, it presents a straightforward, single-level living option. Its core appeal lies in its lot size and location—offering space and potential in a mature, central community near the University of Manitoba. The property suits practical buyers looking for an entry point into the area, those seeking a manageable footprint without stairs, or investors/developers attracted by the large, level lot. It’s not a move-in-ready showcase; its value is grounded in its land and location rather than its current structure or rankings, which are consistently in the lower percentiles for the area in terms of size, age, and assessed value. A thoughtful perspective sees this as a canvas: the significant price appreciation from 2017 to 2021 suggests the market values the underlying land, making it a candidate for future renovation or redevelopment rather than judging it solely on its existing modest footprint.

Frequently Asked Questions

1. What does "no basement" mean for this property?
It means the house is built on a concrete slab foundation. There is no below-ground storage, mechanical, or living space. Utilities will be at ground level, and all living is confined to the main floor layout.

2. The rankings show it's in the bottom percentages for the street and area. Is this a bad sign?
Not necessarily. The rankings compare specific metrics like living area and assessed value. For this home, they primarily confirm it is one of the smaller, older, and more modestly valued properties in a desirable neighbourhood. This reflects its character as a potential starter home or land-value proposition in a well-regarded location.

3. Who is responsible for the exterior maintenance and landscaping of such a large lot?
The homeowner is fully responsible for the entire 6,002 sqft lot. This includes lawn care, tree maintenance, snow removal from the driveway and walks, and any fencing. The lot size is an asset but also requires more upkeep than a smaller yard.

4. Is there potential to add a garage or expand the house?
The large lot certainly provides physical space for additions like a detached garage or a home extension. Any plans would require checking with the City of Winnipeg for zoning bylaws, setback requirements, and obtaining the necessary permits.

5. The assessed value is $241,000, but it sold for $228,000 in 2021. Which figure is more accurate?
The sale price is a concrete historical fact from an arms-length transaction. The assessed value is the city's estimate for taxation purposes, which can lag behind the market. For understanding current market value, recent comparable sales and a professional appraisal are more relevant than either of these past figures.