Property Overview
This one-storey home on Harcourt Street presents a compelling opportunity centered on its generous lot and established neighbourhood. Built in 1962, the house itself features a renovated basement and a modest 1,165 sqft of living space. Its true standout characteristic is the 13,028 sqft lot, which places it in the top 10% for size on its street and the top 2% within the broader Booth neighbourhood. This immense outdoor space is the property's primary asset, offering rare potential for expansion, gardening, or recreation in a city setting. The home suits buyers who prioritize land value and future potential over immediate square footage. It’s ideal for someone looking for a solid, renovatable base on a premier lot, whether a growing family envisioning additions, a multi-generational household, or an investor recognizing the inherent value of scarce, large parcels in mature communities. The appeal lies in what can be built or cultivated, as much as in what currently exists.
Key Questions & Considerations
1. Why is there such a large gap between the assessed value and the last sale price?
Property assessments in Manitoba are primarily for municipal tax purposes and often don't reflect current market value, especially after significant market shifts. The 2021 sale price of $400k is a more relevant indicator of its recent market worth, though conditions have evolved since then.
2. What does the lot size actually allow for?
A lot of over 13,000 sqft is exceptionally large for Winnipeg. This could legally permit additions, a secondary suite (subject to zoning), or the potential for future subdivision if local regulations allow, making it a long-term strategic purchase.
3. The home's living area ranks average; what's the condition?
While specific interior details aren't provided, the notation of a "renovated basement" suggests some updates. Buyers should be prepared that the main living space may require modernization to match the potential of the lot.
4. How does the neighbourhood ranking work?
The "Top 2% in neighbourhood" rank refers specifically to the lot size within Booth. For other metrics like year built or living area, it ranks lower. This highlights the property's unique offering: a very large parcel in a well-established area, not a new or large house.
5. What can nearby sales tell us?
The referenced sale at 294 Nightingale Road (similar size, age, and value) and the 2021 sale of this property itself are useful benchmarks. They suggest the area supports values significantly higher than the assessed figure, but a current comparative market analysis is essential for today's price.