194 Numeracy Lane

Property Overview: 194 Numeracy Lane, Leila North, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a unique profile defined by a significant contrast between its land value and its current improvements. Its most standout feature is the exceptionally large lot of approximately 8,393 sqft, which places it in the top tier for land area both within the Leila North neighbourhood and citywide. This offers rare potential for expansion, gardening, or outdoor recreation in an urban setting.

The appeal lies squarely in this land value and future potential. With a municipal assessed value of $160k, the property is positioned significantly below the Winnipeg average for comparable homes, suggesting the current house may be modest, dated, or in need of updates. This creates a clear opportunity for buyers looking for a "blank canvas" or a long-term property where the primary investment is in the land itself. It would suit value-conscious buyers, developers, or handy homeowners who prioritize lot size and location over move-in-ready condition and are prepared to invest in renovations or a rebuild over time. A thoughtful perspective is that this could be a strategic hold in a neighbourhood where newer or renovated homes on smaller lots command much higher prices.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property as it currently exists. The data suggests that while the land is highly valued for its size, the building's characteristics (such as age, size, or condition) are likely bringing the total assessment down compared to the average Winnipeg home.

2. What can I do with such a large lot?
Beyond a spacious yard, a lot of this size may offer future potential for additions like a garage, workshop, or significant garden. It's important to verify all local zoning bylaws and setback requirements with the city before planning any new structures.

3. Is this a good neighbourhood for investment?
The Leila North area shows a mix of property values. The lot size here is a premium feature for the neighbourhood. Investment potential would depend heavily on the cost of improvements versus the eventual market value of an updated property on this desirable lot.

4. How does the "top 0%" ranking work for the lot?
This statistical ranking compares the lot size to others on Numeracy Lane. The "top 0%, rank 1 of 0" indicates it is the largest lot on the street, with no direct peers on that specific lane for comparison.

5. Are the nearby property values on this list accurate?
The list includes nearby homes for reference. Note that some show assessed values around $13k, which are likely for bare land or tear-down properties, while others are closer to the subject property's $160k assessment. This mix highlights the varied landscape of values on the street, often tied to the size and condition of the home on each lot.