Property Overview
This is a modest, one-storey home built in 1905, situated on an exceptionally large lot in Winnipeg's Dufferin neighbourhood. Its key characteristic is the significant contrast between the compact, 648 sqft living space and the expansive 7,357 sqft land parcel, which ranks in the top 3% for size on its own street.
The primary appeal lies in this land-to-structure ratio, offering a rare opportunity for a buyer whose vision extends beyond the existing house. The property suits a practical buyer looking for an entry point into homeownership with future potential, a hands-on individual interested in a substantial garden or outdoor space, or an investor who sees value in the land itself for future development or as a long-term hold. It’s important to note the home is small by any measure and features an unrenovated basement, positioning it as a project or a value-play based on its underlying asset—the lot.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the living space is small and the house is historic, it appears to be maintained based on its assessed value being consistent with the area average. It could be a live-in project or a candidate for a significant addition, leveraging the large lot.
2. What does the "assessed value" figure mean?
The listed assessed value (e.g., $14.70k) is for municipal tax purposes only and is not the market value or asking price. It is consistently low across similar nearby properties, suggesting it reflects a specific tax classification or assessment method for older, modest homes in the area.
3. How usable is such a large lot?
The lot size is a major asset. It offers ample space for gardening, recreation, or storage. For the right buyer, it provides flexibility for future expansion, like adding a garage, workshop, or even a secondary suite, subject to zoning and permits.
4. What are the implications of an unrenovated basement?
This typically means the basement is in original or functional condition, but not modernized. It likely provides essential utility space and storage but may have lower ceilings, older finishes, and would require inspection for moisture control and foundational integrity.
5. The home sold in 2019 for a similar assessed value. What does that indicate?
The prior sale price being close to the current assessed value suggests a stable, low-value transaction for the structure itself. It reinforces that the market price for this property will be heavily influenced by the premium for the large lot size, not just the house.