Property Overview
This 1953-built, one-storey home on a 3,991 sqft lot in Brooklands presents a specific and straightforward opportunity. Its key appeal lies in its land value and location fundamentals rather than the size or condition of the existing structure. The living area is notably compact at 656 sqft, placing it well below average for the street, neighbourhood, and city. However, the lot size is above average for Brooklands, and the home itself is one of the newer builds on its block. With a very low assessed value, this property is primarily a land play. It would suit a buyer looking for a low-entry-cost lot to build new, an investor considering a hold-and-redevelop strategy, or someone seeking an extremely modest, no-frills home with the potential to expand. Its value is in what can be done with the property, not in its current state.
Frequently Asked Questions
1. Is this a teardown property?
While the existing home is liveable, its significantly below-average size and low assessed value indicate the primary asset is the land. It is an excellent candidate for future redevelopment or a substantial renovation.
2. How does the lot size compare to others?
The lot is a strong feature. At just under 4,000 sqft, it is larger than the average lot in the Brooklands neighbourhood, offering more outdoor space or potential footprint for a new build.
3. Why is the assessed value so much lower than the city average?
The assessed value reflects the current state and size of the improvement (the house) relative to the land. The very low assessment is consistent with a small, older home and does not necessarily reflect the full market value, which would factor in the land's redevelopment potential.
4. What is the neighbourhood like?
Brooklands is an established, no-frills residential area. The property data shows homes on this street and nearby are of a similar vintage and value range, suggesting a consistent, working-character neighbourhood.
5. Are the property taxes likely to be low?
Yes, based on the current assessed value, the property taxes would be very low compared to the Winnipeg average. It's important to note that any significant renovation or new construction would trigger a reassessment and a corresponding increase in taxes.