256 Mclean Street

Property Overview: 256 McLean Street, Varsity View, Winnipeg

Key Characteristics & Appeal

This is a well-established, single-storey home on a notably large, 8,075 sqft lot in the desirable Varsity View neighbourhood. Built in 1982, the 1,523 sqft residence features an unfinished basement and an attached garage. Its primary appeal lies in its exceptional land size, which ranks in the top 11% of all Winnipeg properties, offering significant space and potential for expansion, gardening, or outdoor living. The home itself is competitively sized, ranking above average for both the neighbourhood and city.

The property suits two main types of buyers: those seeking a solid, move-in-ready home with the rare advantage of a massive lot in a central location, and visionaries who see the long-term potential in the land itself—whether for future renovations, additions, or simply as a premium holding in a stable area. Its strong rankings across value, size, and lot dimensions suggest it's a competitively priced, high-value asset within its market segment, rather than just another listing. It’s a practical choice for someone who values space and location over a brand-new build.

Frequently Asked Questions

1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg for specific metrics like lot size and assessed value. For example, ranking in the "top 11%" for lot size in Winnipeg means 89% of properties have a smaller lot, highlighting a key strength.

2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer's needs and budget. It's a drawback for those seeking immediate, finished living space. However, it represents a clear opportunity to customize additional square footage to your exact specifications, potentially adding significant value.

3. The house is 44 years old. What should I be mindful of?
While the structure is established, a thorough inspection of major systems (roof, foundation, plumbing, electrical) for their age and condition is essential. The upside is that older neighbourhoods like Varsity View often have mature trees and settled, character-filled streets.

4. Who benefits most from such a large lot?
Beyond gardeners and those who want spacious outdoor play areas, a lot of this size is a strategic asset. It provides privacy from neighbours, ample parking or storage options, and is often the first feature to be maximized in a future renovation or rebuild, securing long-term value.

5. How does the assessed value relate to the listing price?
The municipal assessment of $436,000 is a snapshot for tax purposes and may not reflect current market value. However, its strong percentile ranking (top 28% in Winnipeg) indicates the city views it as a high-value property, which can be a useful benchmark when evaluating the listing price.