Property Overview & Key Characteristics
This one-storey home at 1 Willowbank Street in Winnipeg's Brooklands neighbourhood presents a straightforward, land-focused opportunity. Built in 1925, its primary appeal lies in its 2,423 sqft lot, which is a competitively sized parcel for the immediate street. The 616 sqft living area is compact, and the home includes an unrenovated basement but no garage or pool. The assessed value is notably below averages for the area and city.
Its core appeal is for the value-conscious buyer or investor seeking a lower-cost entry into the Winnipeg market, with the land representing a significant portion of the property's value. It would suit a hands-on buyer comfortable with a home that requires updates, an investor looking for a rental property with a manageable footprint, or someone prioritizing future potential (like a lot for expansion or redevelopment) over immediate move-in condition. A thoughtful perspective is that this property offers a chance to own a home without a large mortgage, potentially freeing up capital for strategic renovations over time.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed values are based on a mass appraisal system considering factors like home size, age, and location. The compact living area and age of this home place it in a lower value tier compared to the average Winnipeg property, which includes many larger, newer homes.
2. What does the land size ranking mean for this property?
While the lot is below average for Brooklands and Winnipeg overall, it ranks in the top 40% (4th out of 10) on its own street. This suggests the lot is actually a relative strength within its immediate context, not a drawback.
3. Is the unrenovated basement finished?
The listing specifies the basement is "not renovated," which typically indicates it is unfinished or in original condition, lacking modern finishes or updates.
4. Who would this property not be suitable for?
It would likely not suit buyers seeking a turn-key, modern home with ample indoor living space, garage parking, or who prefer not to take on any renovation projects.
5. How recent is the sale price data shown?
The property last sold in August 2021 for $15,900. This provides historical context, but the current listing price may be different.