Property Overview: 11 Piccadilly Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home on a standard-sized lot in the Brooklands neighbourhood. Built in 1955, its key characteristic is its scale: with 540 sqft of living space, it is notably compact, ranking at the very bottom of its peer group for interior size. The appeal lies primarily in its land value and potential. The detached garage and a land area that is average for the local area present a solid foundation. The very low assessed value suggests this property is a candidate for significant renovation, a complete rebuild, or a land-value play for an investor. It would suit a practical buyer looking for an entry point into the market who is prepared for a major project, or an investor considering the lot’s future development potential. It’s less suited for someone seeking a move-in-ready home or spacious living.
Section 2: Frequently Asked Questions
1. Is this a tear-down property?
Given the living area is significantly smaller than area averages and the assessed value is very low relative to the city, it is very likely being evaluated by the market for its land value or redevelopment potential, rather than its existing structure.
2. What does the "Top 100%" ranking mean for Living Area and Value?
This means the property ranks at the absolute bottom (8th out of 8) on its own street for both size and assessed value. Essentially, it is the smallest and has the lowest municipal assessment among its immediate neighbours used for comparison.
3. Who might be interested in a home this small?
Beyond investors, it could appeal to a minimalist buyer or someone seeking a very affordable footprint to customize extensively. Its compact nature makes it a potential candidate for an efficient, modern renovation if the structure is sound.
4. How does the lot size compare?
At 3,643 sqft, the lot is perfectly average for both Piccadilly Street and the broader Brooklands area. This is a neutral point—it’s neither unusually large nor small for the community.
5. The last sale was for $11,200 in 2016. What does that indicate?
A sale price that low, well below even the current low assessed value, strongly suggests the property was in distressed condition or part of a non-arms-length transaction at that time. It highlights the property’s history as a project and is not indicative of current market value for a standard sale.