317 Mclean Street

Property Summary: 317 McLean Street, Varsity View, Winnipeg

Key Characteristics & Appeal

This is a classic, single-storey home built in 1959 on a large, 5,380 sqft lot in the established Varsity View neighbourhood. Its key features include 960 sqft of living space and an unfinished basement, presenting a straightforward, no-frills canvas. The appeal lies in its generous lot size—ranking in the top 10% within the community—offering significant outdoor space and potential in a central location. Without a garage or finished basement, it represents an affordable entry point into a desirable area near the University of Manitoba.

This property would best suit a value-conscious buyer, such as a first-time homeowner or practical investor, who prioritizes land size and location over move-in-ready finishes. It’s a home for someone who sees potential in the substantial yard and is comfortable with a property that offers the basics, allowing for future customization to personal taste and budget. The rankings suggest it’s a competitively sized home for the street but stands out most for the land it sits on, offering a less obvious opportunity for expansion or outdoor enjoyment that is rare for the price point in this community.

Frequently Asked Questions

1. What is the true advantage of such a large lot?
Beyond simple outdoor space, a lot of this size in Varsity View offers long-term flexibility. It provides room for potential additions like a garage, garden suite, or extensive landscaping, which are often not possible on standard-sized plots in mature neighbourhoods.

2. How should I interpret the provided rankings?
The rankings compare this home against specific groups. Notably, while its living space is fairly average for the area, its land size ranks highly within the community (top 10%). This indicates you are purchasing a scarcer resource—land—rather than an above-average house.

3. What are the implications of an unfinished basement?
It offers affordable storage and mechanical space as-is, but also represents both a future project and a blank slate. It allows a new owner to finish it to their specific needs without first paying for or removing someone else’s work, though it requires upfront investment.

4. Is the lack of a garage a major drawback?
For some buyers, yes. However, the large lot provides a clear, permitted space to build one if desired. In the interim, the property may appeal to those who prioritize other uses for their budget or yard space.

5. What does the assessment value indicate?
The municipal assessment of $292,000 is used for calculating property taxes. It is an administrative valuation, not a market price. The fact that it ranks in the lower third for the street suggests the home itself is modest relative to neighbours, which can mean relatively lower property taxes for the location.