Property Overview & Appeal
This one-storey home on Alexander Avenue in Brooklands is defined by a significant contrast: it sits on a large, above-average lot but within a very modestly sized house. The nearly 4,800 sqft lot ranks in the top 7% for the street, offering substantial outdoor space that is uncommon for the area. The home itself, built in 1946 with 610 sqft of living space, is compact and would be considered well below average in size both locally and citywide. Its most recent sale was in January 2023 for $180,000, with a current assessed value significantly lower than the Winnipeg average.
The primary appeal lies in the land itself. This property is a clear candidate for a full redevelopment or a significant expansion, representing a solid opportunity for a builder or a buyer with renovation capital. Alternatively, its low footprint and assessed value could suit a minimalist buyer, investor, or someone seeking an affordable entry into the market with a focus on outdoor potential rather than interior space. It’s important to note that the home’s condition and systems, given its age, would require thorough inspection.
Frequently Asked Questions
1. Is this a teardown property?
While not explicitly marketed as such, the combination of a very small, 80-year-old home on a large, desirable lot makes it a prime candidate for redevelopment. The value here is predominantly in the land.
2. Why is the assessed value so much lower than the recent sale price?
The 2023 sale price of $180,000 reflects the market value between a buyer and seller, which includes the land's development potential. The municipal assessed value ($17,400) is typically lower and used for tax purposes, often lagging behind rapid market shifts and not fully capturing redevelopment premiums.
3. What can I realistically do with a 610 sqft house?
The existing structure could be updated for minimalist living, used as a temporary setup during a phased building project, or potentially serve as a rental. However, its size and age mean most buyers will be planning for a major renovation or rebuild to utilize the lot fully.
4. How does the lot size compare to nearby properties?
The lot is a key feature. At 4,765 sqft, it is substantially larger than the average lot on Alexander Avenue (~2,977 sqft) and in Brooklands (~3,662 sqft), offering more privacy and space for additions, a garden, or a new build.
5. Are the utilities and foundation in good condition for a potential renovation?
This is a critical question. Any offer should be conditional on a thorough inspection, especially for a home of this age. Understanding the state of the foundation, plumbing, electrical, and heating will be crucial in determining whether renovation is feasible or if a full rebuild is more practical.