Property Overview & Key Characteristics
This is a unique offering defined by its substantial, mature lot of over 1.3 acres (56,905 sqft) in the Elmhurst neighbourhood. The appeal lies primarily in this exceptional land size, which is exceedingly rare within the city, placing it in the top 1% of properties in Winnipeg for lot area. The one-and-a-half storey home itself, built in 1920 with 1,096 sqft of living space, is a classic character home that presents as a fixer-upper or a candidate for significant renovation. Key features include an unfinished basement and no garage. The property suits a specific buyer: someone seeking a private, park-like setting with immense potential for expansion, gardening, or future redevelopment, who is prepared for the project of updating a century-old home. It also appeals to buyers valuing long-term land value in the city over immediate move-in readiness.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size ranks in the top 1% city-wide, while its age (106 years) means it is older than nearly all comparable properties. This highlights the trade-off: unparalleled land size versus an older home that will likely require investment.
2. Is the land subdividable?
This is a critical question for a lot of this size. Any potential subdivision would be subject to the City of Winnipeg's zoning bylaws, permitting, and development approval processes. A buyer must investigate this directly with the city, as it is not a guaranteed right.
3. What are the implications of an "unfinished" basement in a 1920s home?
While offering storage space and potential, it typically indicates older foundational systems (like plumbing, electrical, or the foundation itself) that may not be modernized. An inspection is crucial to understand the condition and any moisture issues common in basements of this era.
4. There's no garage. Can one be built?
Given the vast lot size, adding a garage or outbuilding is likely feasible from a space perspective. However, any new structure would require proper permits and must comply with setback regulations and zoning rules.
5. How should I interpret the assessment value versus the asking price?
The municipal assessment ($344,000) is for tax purposes and reflects the city's valuation formula as of a prior date. The listing price is set by the seller based on current market conditions, perceived land value, and property potential. They often differ, and the sale price is determined by what a buyer is willing to pay in the open market.