Property Overview: 4714 Roblin Boulevard, Winnipeg
Key Characteristics & Appeal
This is a classic 1953 one-storey bungalow situated on a remarkably large, approximately 12,541 sqft lot in the Eric Coy neighbourhood. With 845 sqft of living space, an unfinished basement, and no garage, the home itself is modest and likely requires modernization. Its true and significant appeal lies in its land. The property ranks in the top 3% of all Winnipeg for lot size, offering a rare suburban canvas of this scale within the city. This creates immediate value for buyers looking for space, privacy, and potential.
The appeal is dual-faceted. For a buyer seeking a forever home, it presents a long-term project: the existing house can be renovated or eventually replaced, allowing for the creation of a custom home on a premier lot. More pragmatically, it’s an excellent hold-and-invest property. The land itself is a substantial asset in a mature area, likely to appreciate independently of the existing structure. This property would best suit a hands-on buyer, a developer, or an investor who sees beyond the current dwelling’s limitations and values the inherent worth and possibilities of the land. It’s not a move-in-ready solution but a foundation for future value.
Frequently Asked Questions
Q: The house seems small and dated. What am I really paying for?
A: You are primarily investing in the land. The lot size is exceptionally large for Winnipeg, placing it in the 97th percentile. The value is in the potential this space offers, not the current condition of the 845 sqft bungalow.
Q: What can I do with such a large lot?
A: The possibilities are a key selling point. Options could include extensive landscaping, adding substantial outbuildings (subject to bylaws), future subdivision if the area is re-zoned, or eventually building a new, larger home. The lot provides rare flexibility.
Q: The rankings show the house scores poorly on size and value compared to neighbours. Is that a concern?
A: Not necessarily. These rankings compare the current house and its assessed value to others. They highlight that the existing structure is smaller and valued lower than many in the area, which is reflected in the price. This reinforces that the opportunity here is the land, not the standing structure.
Q: It recently sold for $22.5K above the assessed value. Does that mean it's overpriced?
A: Not inherently. The sale price likely reflects market recognition of the land's premium value, which may not be fully captured in a standard assessment focused on the existing dwelling. It indicates competitive buyer interest in the lot's potential.
Q: Who would this property NOT be suitable for?
A: It would not suit buyers seeking a low-maintenance, turn-key home, or those without the vision, budget, or patience for a property with significant renovation or redevelopment potential. It’s a project or a land investment first and foremost.