266 Mclean Street

Property Overview: 266 McLean Street, Varsity View, Winnipeg

Key Characteristics & Appeal

This is a classic, one-storey home built in 1938, situated on a generous 5,383 sqft lot in the established Varsity View neighbourhood. With 821 sqft of living space, no basement, and no garage, it presents a straightforward, low-maintenance footprint. Its appeal lies in its substantial lot size—which is notably larger than many in the area—offering significant potential for gardening, expansion, or outdoor living. The home ranks highly for its lot size within the local context but is an older property, so its appeal is geared toward value and potential rather than modern finishes.

This property would suit a first-time buyer, an investor, or a downsizer looking for an entry point into a central neighbourhood without the complexity of a large house. It’s a canvas for someone comfortable with a renovation project or who prioritizes land value and location over move-in-ready condition. A thoughtful perspective is that the absence of a basement eliminates concerns about basement moisture or costly waterproofing, which can be a hidden advantage in Winnipeg. Its older age and simpler layout also mean systems and structure are potentially easier and less expensive to inspect and repair than in more complex modern homes.

Frequently Asked Questions

1. What does "no basement" mean for storage and utilities?
The home’s living space is all on the main floor. Utilities like the furnace and water heater will be in a utility room on the main level, and storage solutions would need to be creative, possibly through added closets, a shed, or future attic conversion.

2. Is the lot size a significant advantage?
Yes. At over 5,300 sqft, the lot is a standout feature. It provides ample private outdoor space, which is less common in older central neighbourhoods, and offers long-term potential for additions, a garage, or landscaping.

3. Given its age, what should be the main inspection focus?
While all aspects need checking, special attention should be paid to the foundation, roof, wiring, and plumbing due to the home’s 88-year age. The good condition of these core structural and systems elements is crucial.

4. Who is responsible for snow removal and yard maintenance?
As a single-family home, the owner is responsible for all property maintenance, including clearing the sidewalk in winter. The large lot means factoring in the time or cost for lawn care and gardening.

5. How does the assessed value relate to the likely selling price?
The municipal assessment ($249,000) is for tax purposes and uses a mass appraisal formula. The final sale price is determined by the market, based on condition, recent comparable sales, and buyer demand for the location and lot.