Property Overview
75 D'Arcy Drive is a well-established one-storey home in Winnipeg's Agassiz neighbourhood, built in 1961. It sits on a large, approximately 10,500 sqft lot, which is a standout feature, placing it in the top 5% of Winnipeg for lot size. The home itself offers 1,657 sqft of living space and includes an attached garage and a renovated basement. Its most compelling data point is its assessed value of $77,400, which ranks in the top 2% of the city, indicating it is significantly undervalued relative to its last sale price of $850,000 in July 2022.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of a premium, oversized lot and a value proposition based on its official assessment. The lot size is not just above average; it's in the elite tier for Winnipeg, offering rare potential for expansion, gardening, or outdoor living. The home has seen updates, notably in the basement, and provides solid, single-level living space.
This property would particularly suit value-conscious buyers or investors who see potential beyond the current structure, such as those looking for a land play or a long-term hold in a stable neighbourhood. It's also a fit for buyers who prioritize outdoor space over a newer home, as the building itself is older. The significant gap between the low assessed value and recent sale price suggests a complex story—possibly appealing to a buyer comfortable with due diligence around property taxes, past valuations, or renovation history.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed values for taxation don't always align directly with current market value. They can lag behind rapid market shifts or be based on different valuation models. This discrepancy warrants checking the assessment details and recent comparable sales.
2. What does the "renovated basement" entail?
The listing notes a renovated basement, but specifics on the scope, quality, permits, and finish date are not provided here. This would be a key area for inquiry to understand the home's true condition and value.
3. How does the older building age (1961) affect this property?
While the lot is a major asset, a 65-year-old home will likely have older core components (like plumbing, electrical, roof). The appeal hinges on whether major systems have been updated and how the renovated basement addresses these concerns.
4. The last sale was in 2022 for $850k. What is driving the current opportunity?
A sale at that price two years ago, followed by a current listing, suggests a change in the seller's circumstances. It's important to understand the market context of that 2022 sale and any changes to the property or neighbourhood since.
5. What is the neighbourhood (Agassiz) like?
The data shows the property ranks highly within Agassiz for lot size and value. Prospective buyers should research the neighbourhood's character, amenities, and typical property types to see if it aligns with their lifestyle, as the home itself is older on a very large lot.