265 Albany Street

Property Overview: 265 Albany Street, Deer Lodge, Winnipeg

Key Characteristics & Buyer Appeal

This property presents a unique opportunity centered on its land. The lot is a substantial 2,399 sqft, ranking it in the top 1% for size on Albany Street. This is the home's most defining feature. The appeal lies squarely in its potential; it is a clear candidate for a complete rebuild or a significant renovation project. The assessed value is notably low compared to nearby properties, which often indicates the current structure adds minimal value, shifting focus to the land itself.

It would suit a specific type of buyer: investors, builders, or handy individuals looking for a blank canvas in a well-established neighbourhood. This is not a move-in-ready home but a foundation for creating something new. A less obvious perspective is its appeal to those seeking to control their total property tax base, as a new build on this lot would reset its value, potentially offering long-term savings compared to purchasing an already-renovated home at a premium.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The low assessment strongly suggests the existing structure is considered to have minimal contributory value, likely due to age, condition, or size. The value is primarily in the land.

2. What can I build on this lot?
You would need to verify with the City of Winnipeg’s planning department for exact zoning (likely residential) and bylaws governing setbacks, building size (FAR), and height to understand the potential for a new single-family home.

3. Is this a teardown property?
While not explicitly stated, the combination of a high-value lot with a very low assessed value and no listed details on the building itself strongly indicates that redevelopment is the most probable path.

4. How does the lot size compare to the area?
The lot is exceptionally large for the street, ranking in the top 1%. This provides more flexibility for landscaping, outdoor space, or a larger footprint for a new home compared to neighbouring properties.

5. What is the neighbourhood like?
Deer Lodge is a mature, established neighbourhood in Winnipeg. The listing shows nearby properties with a wide range of ages and values, indicating an area with a mix of original homes and newer infill developments.