3231 Grant Avenue

Property Overview: 3231 Grant Avenue, Varsity View, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This 1985 bi-level home in the established Varsity View neighbourhood offers a practical and efficient layout on a generous 4,252 sqft lot. Its key characteristics include a finished basement and a detached garage. The home's primary appeal lies in its strong locational fundamentals within a sought-after community, coupled with a lot size that ranks very well within its immediate area. The data suggests a property that is valued highly relative to its street and has seen significant price appreciation since its last sale in 2019.

It would suit a pragmatic buyer, such as a first-time homeowner or an investor, who prioritizes land value and location over interior square footage. The modest 680 sqft living area indicates a compact, manageable layout ideal for those seeking lower utility and maintenance costs. A thoughtful perspective is that this property represents a "land play" in a premium neighbourhood—the value is anchored more in its desirable address and sizable lot than in the size of the existing structure, presenting a potential long-term redevelopment opportunity or a simple, cost-effective entry into the area.

Frequently Asked Questions

1. How does the home's size compare to others in the area?
The 680 sqft living area is quite compact, ranking in the top 98% of the community (meaning only 2% of homes are smaller). This indicates a very efficient use of space, which can mean lower heating and upkeep costs.

2. What do the ranking percentages for "Assessment Value" mean?
The assessment value of $304,000 ranks in the top 10% on its street and top 20% in the neighbourhood. This suggests the city assessor attributes significant value to this property, likely due to its lot size and location, even though the building itself is not large.

3. Has the property value increased?
Yes. It last sold for $259,000 in October 2019. The current assessment of $304,000 indicates considerable growth in value over that period, outpacing many comparable local sales.

4. What is the significance of the lot size ranking?
The lot size of 4,252 sqft ranks in the top 27% on its street. In an older neighbourhood, a larger-than-average lot is a key asset, offering more outdoor space and potential.

5. Is the age of the home (41 years) a concern?
The 1985 build year is newer than about 68% of homes in Winnipeg, ranking it in the top third for age. For its area, it is a relatively modern structure, which may mean fewer immediate major repairs compared to much older heritage homes.