198 Ramona Gallos Way

Property Overview: 198 Ramona Gallos Way, Leila North, Winnipeg

Key Characteristics & Appeal

This property presents a unique profile defined by its significant land value and modest improvements. Its primary characteristic is a very low municipal assessed value of $14,600, which is driven almost entirely by the land. The lot size of 4,670 sqft is above average for the immediate Leila North neighbourhood. The data suggests the existing structure may be minimal, potentially a small or older home, or possibly even a vacant lot with an address. Its appeal lies in its value as a land play—an opportunity for redevelopment, a new build, or a long-term land hold in a mature area. It would suit investors, builders, or buyers with the vision and capital to develop the site, as well as those seeking an extremely low property tax base. A less obvious perspective is its potential for someone prioritizing outdoor space over living area, or for a buyer looking for a "blank canvas" in an established community without paying a premium for an existing modern home.

Frequently Asked Questions

1. Why is the assessed value so low compared to city averages?
The assessed value is primarily for the land. The data indicates that the value of any building on the property is negligible, which drastically lowers the total assessment compared to a standard, fully developed home.

2. What does the "Elite — Top 0%" ranking for land value on its street mean?
This statistical ranking shows that on Ramona Gallos Way, this property has the highest assessed land value per the data set. This doesn't mean it's the most expensive property; rather, it confirms that the parcel's value is almost entirely in the land component compared to its immediate neighbours.

3. Is this a move-in ready home?
The extremely low assessment and lack of living area data strongly suggest it is not a typical move-in ready family home. Buyers should be prepared for a potential tear-down, major renovation, or new construction project.

4. Who would be the most likely buyer for this property?
The most likely buyers are developers, investors, or individuals planning to build a new primary residence. It is less suited for buyers seeking a finished, turn-key home.

5. How useful are the comparisons to nearby properties on Numeracy Lane?
They provide neighbourhood context, but the key difference is that the Numeracy Lane listings shown have similar total assessed values with homes on them. This highlights how 198 Ramona Gallos Way's value is disproportionately tied to its land, making it a different type of asset.