Property Summary: 190 Woodbridge Road, Winnipeg
Section 1: Overview & Appeal
This one-storey home in Birchwood is a classic character property built in 1920, sitting on a generous 5,645 sqft lot. Its key appeal lies in its established neighbourhood setting and solid fundamentals. The house itself offers 1,100 sqft of living space and includes a basement (not renovated) and a detached garage.
The property’s standout characteristic is its land. The lot size ranks in the top 6% of the neighbourhood, offering significant outdoor space and future potential that is rare for the area. While the home may benefit from updates, its recently sold price (June 2024) of $260k sits well above its assessed value, suggesting buyers see value in its location and lot. It ranks highly in several neighbourhood metrics, including value and sale price, indicating it is perceived as a desirable asset within its immediate community.
This home would suit a practical buyer looking for an entry point into a mature neighbourhood, valuing space over a turn-key finish. It’s ideal for someone comfortable with gradual renovations, a DIY enthusiast, or an investor who recognizes the long-term value of a large lot in a well-ranked area of Birchwood. The detached garage adds functional appeal for hobbyists or those needing extra storage.
Section 2: Frequently Asked Questions
1. What does the "not renovated" basement condition typically mean?
It generally indicates an original or dated space, likely unfinished or with older finishes, usable for storage and utilities but potentially requiring moisture management or upgrades for comfortable living space.
2. How significant is the lot size ranking in the top 6% of the neighbourhood?
Very significant. It means this property offers more outdoor space than 94% of homes in Birchwood, which is a major advantage for privacy, gardening, play areas, or future expansion.
3. The house sold for $260k against a ~$27k assessed value. Why such a large gap?
Municipal assessed value for tax purposes often lags behind market value, especially in active markets. The sale price reflects what buyers are currently willing to pay for the property's location, lot size, and housing characteristics.
4. What are the implications of the home's rankings for value and sale price within the street?
While the lot is large, the home's value and recent sale price rank in the middle-to-lower third of Woodbridge Road itself. This suggests the street may have a mix of more updated or larger homes, positioning this as a potentially more affordable option on a desirable street.
5. Who might the "similar assessed value" properties be relevant for?
They are primarily relevant for municipal tax comparison purposes. These properties are unlikely to be similar in style or location; they simply share a similar tax assessment base, which is useful for understanding your potential tax burden but not for judging market value or livability.