411 Wallasey Street

Property Overview: 411 Wallasey Street, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This property at 411 Wallasey Street in the Booth neighbourhood is defined by its substantial 6,185 sqft lot, which places it in the top half for size on its street. Its primary appeal lies in the clear value proposition and land potential it represents. With a notably low assessed value, it presents an opportunity for buyers looking to enter the market at a lower point or for investors considering land value. The home last sold in 2017 for $260k, a price that was competitive within its area at the time, suggesting it may be a more established or renovated structure than the current assessment alone indicates.

The home would suit a practical, value-oriented buyer—perhaps a first-time homeowner willing to look beyond raw assessment figures, a hands-on individual interested in the possibilities of a large lot, or an investor focused on the underlying asset and neighbourhood metrics. Its rankings show a interesting contrast: while newer and larger than almost all comparable homes in wider rankings, its assessed value is currently at the lower end of its immediate street, hinting at a unique circumstance or an opportunity for value reassessment. This isn't just a basic entry-level listing; it's a property that asks for a closer look at the balance between its recorded metrics and its on-the-ground reality.

Frequently Asked Questions

1. Why is the assessed value so much lower than the last sale price?
Municipal assessed value for taxation purposes doesn't always equal market value and can lag behind recent sales or improvements. The 2017 sale price is often a better indicator of its market value at that time, and the gap may suggest changes in the market, the property, or its assessment category.

2. What does the "top percentage" ranking mean?
These rankings compare this property against others on its street, in Booth, and in all of Winnipeg. For example, "Top 43% in same street" for land area means its lot is larger than 43% of others on Wallasey Street. A higher "top %" is generally better for metrics like size and newness.

3. Is the land subdividable?
The large lot size (6,185 sqft) is a key feature, but whether it can be subdivided depends on current City of Winnipeg zoning bylaws. This would require direct verification with the city's planning department.

4. What are the nearby properties like?
The listing shows several immediate neighbours on Wallasey and Aldine Streets, with varying ages, sizes, and values. This suggests a mixed-street character, which is common in established neighbourhoods. The similar assessed value properties listed are located in entirely different areas, highlighting that assessment value alone is not a reliable indicator of location or property type.

5. Are there any obvious concerns since the assessment is low?
A low assessment relative to past sale price and neighbouring properties doesn't inherently indicate a problem. It could be due to assessment timing, interior condition not reflected in land value, or specific exemptions. However, it does warrant thorough due diligence, including a current home inspection and title search, to understand the full picture.