Property Overview: 165 Irving Place, Winnipeg
Key Characteristics & Appeal
This one-storey home on a large, 10,449 sqft lot presents a distinct value proposition. Its primary appeal lies in the significant land size, which ranks within the top 5% city-wide, offering rare potential for expansion, gardening, or outdoor space in an urban setting. The home itself is modest at 807 sqft with a renovated basement, suggesting a focus on functional living space rather than grandeur. Key data points indicate it is a more affordable entry into the Kildonan Drive area, with an assessed value around the neighborhood average but a living area well below typical sizes for the street.
This property would best suit a practical buyer who prioritizes land over square footage. It's ideal for a first-time homeowner comfortable with a compact layout, a downsizer seeking manageable indoor space with ample outdoors, or an investor/renovator who sees value in the lot's potential. The renovated basement adds functional living or rental space, enhancing its utility. A thoughtful perspective is that this home offers a trade-off: you acquire a land asset that is increasingly scarce in the city, while the house itself represents a manageable, lower-maintenance footprint.
Frequently Asked Questions
1. Is the house too small for a family?
At 807 sqft, it is significantly smaller than most area homes. It may suit a small or starter family, especially with the renovated basement providing additional flexible space. The large lot compensates by offering extensive room for children to play or for future additions.
2. Why is the assessed value relatively low compared to the lot size?
The assessed value reflects the current improved property, which includes the smaller, older (1953) home. The high land value is somewhat offset by the modest building, resulting in a total assessment that is average for the wider area, presenting a potential value opportunity.
3. What does the sold price history indicate?
The home sold in 2017 for an estimated range of $24.5k to $27.5k. This historical price, significantly lower than the current assessed value, highlights market appreciation and underscores the property's position as a more affordable entry point in its neighborhood.
4. How does the large lot benefit me if I don't want to build?
Beyond building potential, a lot of this size offers exceptional privacy, space for extensive landscaping, vegetable gardens, recreational areas, or detached storage. It provides a sense of openness uncommon for city properties.
5. Are there any concerns with a home built in 1953?
While the age is around average for the city, it is prudent to investigate the condition of major aging components like the roof, foundation, and plumbing. The mention of a renovated basement is a positive sign of updates, but a thorough inspection is always recommended.