850 Burnell Street

Property Overview & Appeal

This property at 850 Burnell Street in Winnipeg's Daniel McIntyre neighbourhood presents a unique opportunity defined by its contrasts. Its key characteristic is a very low municipal assessed value of $10,500, which ranks in the top 1% for value in Winnipeg. This is paired with a land area of 3,266 sq ft that is above average for its street. However, the living area and year built data are not provided, and the home has no garage or pool. Its appeal lies in its potential as a blank canvas—the low assessment suggests a property ripe for significant renovation or complete redevelopment, especially given the lot size. It would suit value-driven buyers looking for a foundation to build upon, such as investors, builders, or hands-on homeowners planning a major project. A less obvious perspective is that this could represent a rare chance to secure a larger lot in an established central neighbourhood, where the value is almost entirely in the land itself.

Frequently Asked Questions

1. Why is the assessed value so much lower than the nearby comparable properties?
A significantly lower assessed value typically indicates the municipal assessment reflects a property in need of major updates or one that is not fully developed compared to its neighbours. It's essential to verify the current condition through a viewing.

2. What does the "rank by year, newer = better" ranking mean?
The listing shows this property ranks in the top 1% for being "newer" on its street and in Winnipeg. Without a stated build year, this likely indicates the data is missing or the home has been significantly altered, so the ranking may not be a reliable indicator of actual age.

3. Is the large land area a major advantage?
Yes. With 3,266 sq ft, the lot is larger than over half the properties on the street. This provides more outdoor space and potential for additions, landscaping, or even subdivision, subject to city zoning bylaws.

4. Who would this property not be suitable for?
It is likely not suitable for buyers seeking a move-in-ready home or those unable to manage a large-scale renovation or new construction project. The lack of basic data suggests significant work may be needed.

5. How should I interpret the "similar assessed value" comparisons?
The listed similar-value properties are on a different street (Zimmerman Drive). This highlights that the assessment is unusually low for the Daniel McIntyre area, reinforcing that value here is not based on a finished home but on the land and potential.