Property Overview
This 1955-built, one-storey home on a 4,137 sqft lot in Brooklands presents a specific and straightforward opportunity. Its key characteristic is the notable difference between its modest 672 sqft living area and its generous lot size, which is above average for the neighbourhood. The home last sold in 2020 for $150k and carries a low assessed value.
The primary appeal lies in its potential as a land-value proposition or a complete renovation project. It suits buyers looking for an affordable entry into the Winnipeg market, investors considering a future rebuild, or those seeking a manageable footprint with ample outdoor space. A thoughtful perspective is that its smaller living area, while well below average, could be a benefit for downsizers or those seeking minimal upkeep, provided the home is structurally sound. Its average lot size for the street but above-average for Brooklands suggests a balanced location within the area.
Frequently Asked Questions
1. Is this a teardown property?
While the low assessed value and small living area suggest it, a professional inspection is essential to determine if the existing structure can be renovated or if redevelopment is the most viable path.
2. Why is the assessed value so much lower than the last sale price?
Municipal assessed value for taxation purposes often lags behind market sale prices and is calculated using a different methodology. The 2020 sale price is a clearer indicator of its recent market value.
3. What are the main considerations for expanding or rebuilding?
The lot size is favourable for expansion or redevelopment. Buyers should first investigate Brooklands zoning bylaws, potential heritage considerations for a 1955 home, and the cost of bringing utilities and the foundation up to modern code.
4. How does the small living area impact livability?
The floor plan is compact. This efficiency can mean lower heating costs and less maintenance, but it requires thoughtful organization. It may not suit those needing multiple bedrooms or dedicated workspace.
5. What is the context of the "below average" price rankings?
The rankings show the home is priced below most properties on the same street, in Brooklands, and citywide. This reflects its current condition and size, highlighting its value as a project or entry-point purchase rather than a move-in-ready home.