Property Overview: 263 Grassie Boulevard, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Eaglemere is defined by a striking contrast: a modest, older house on an exceptionally large parcel of land. The 960 sqft dwelling, built in 1956 with an unrenovated basement, is below average in size, condition, and assessed value for its immediate neighborhood and the wider city. Its primary appeal is not the house itself, but the half-acre lot (21,763 sqft), which ranks in the top 1% for land area in both Eaglemere and citywide. This creates a unique value proposition centered on potential.
The property suits specific buyer types: those with a long-term vision who see the land as the main asset, whether for future expansion, rebuilding, or simply enjoying expansive private outdoor space. It’s also a practical entry point into the market for a buyer comfortable with a smaller, dated home who prioritizes lot size over turn-key condition. It is less suited for those seeking immediate move-in readiness or who value being in a neighborhood of newer, similarly sized homes.
A thoughtful perspective: while the data shows the house ranks low in most metrics, the ultra-low assessed value ($29.1k) primarily reflects the dwelling, not the land. This can represent a significant property tax advantage for the current owner, and the last sale price of $230k in 2020 indicates the market price reflects the land's value. This disconnect between assessed value and market value is key to understanding its financial profile.
Section 2: Frequently Asked Questions
1. Is this essentially a teardown or redevelopment property?
While the existing house is modest and dated, it is habitable. The value is heavily weighted toward the land, making it a prime candidate for a major renovation, expansion, or eventual rebuild, but it does not necessarily require immediate demolition.
2. Why is the assessed value so much lower than the likely selling price?
Municipal assessments often value the land and structure separately. Here, the very low value of the older, small structure brings the total assessment down. Market price, however, is driven by the high value of the large, desirable lot.
3. What are the implications of such a large lot?
Beyond privacy and space, a lot of this size (approximately half an acre) offers rare potential in the city for additions, gardens, or outbuildings (subject to zoning bylaws). It also means higher maintenance responsibility for landscaping and snow clearing.
4. How does the home compare to others on the same street?
Data indicates this home has a significantly larger lot but an older and smaller dwelling compared to most neighbors on Grassie Boulevard, where average living space is larger and homes are typically newer.
5. Given the unrenovated basement, are there moisture or foundation concerns common to homes of this era?
This is a critical consideration for any home built in the 1950s. A thorough inspection is essential to evaluate the basement's condition, drainage, and any necessary updates to insulation, wiring, or plumbing that may be needed.