49 Egerton Road

Property Summary: 49 Egerton Road, Glenwood, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a unique profile defined by its land value and potential. Its primary characteristic is a sizable 1,943 sqft lot in the established Glenwood neighbourhood, which ranks in the top tier for size on its street. The standout data point is its very low municipal assessed value of $24,200, which sits at the bottom of the range for the immediate area and citywide. This suggests the current improvement on the land (the house) contributes minimal assessed value, pointing clearly to a land-value opportunity.

The appeal lies squarely in its potential, not its current state. It is a prime candidate for a knockdown and rebuild, a substantial renovation, or a long-term land-bank investment. The lot size offers flexibility for a new home that would be larger than many in the vicinity, as seen in the comparison to nearby properties. It would suit a buyer with vision—such as a builder, a developer, or a homeowner planning a custom new build—who is motivated by land value and location over a move-in-ready home. A less obvious perspective is that for a certain buyer, the low annual property taxes (tied to the low assessment) could be an advantage during a multi-year planning or saving phase before construction begins.

Section 2: Frequently Asked Questions (FAQs)

1. Why is the assessed value so much lower than nearby homes?
The assessed value is a combination of land and building value. The data indicates the land is valuable, but the building's contribution is very low, likely due to its age, condition, or size.

2. What type of project would this property be best for?
It is most directly suited to a complete redevelopment, such as tearing down the existing structure to build a new, larger home that capitalizes on the above-average lot size.

3. Is the property in a desirable area?
It is located in the established Glenwood neighbourhood. The provided comparisons show a mix of older and brand-new homes on nearby streets, indicating an area where infill development and renovation are actively occurring.

4. What are the less obvious factors to consider?
Prospective buyers should thoroughly investigate development bylaws (setbacks, allowable building size), the cost of demolition and servicing, and the condition of any existing services. The low assessment is advantageous for taxes now, but a new build will trigger a significant tax reassessment.

5. How does the lot size compare practically?
At 1,943 sqft, the lot is notably larger than many in the area (e.g., a reference property on Egerton Road has 1,008 sqft of living area alone). This provides more outdoor space and design flexibility for a new home compared to typical infill lots.