Property Overview: 488 Morley Avenue, Lord Roberts, Winnipeg
Key Characteristics & Buyer Profile
This home presents a distinct value proposition centered on its land. Built in 1951, the 768 sqft house is modest in size, ranking below average for living space both on its street and within the city. However, it sits on a 5,007 sqft lot, which is exceptionally large for the area—ranking in the top 1% on Morley Avenue. This creates a significant opportunity for expansion, gardening, or outdoor living that is rare in the neighbourhood.
The appeal lies in this land potential combined with a relatively modern build date for the street and an assessed value that is above average locally. It suits a practical buyer who sees beyond the current footprint—perhaps a first-time buyer or renovator looking for a "blank canvas" property with room to grow, or someone prioritizing private outdoor space over a large interior. It’s a strategic purchase for those valuing the lot over the structure, offering a chance to add value in a well-established area.
Frequently Asked Questions
1. Is the house too small for a family?
While the current living area is below the city average, the expansive lot provides clear potential to add an addition, making it a viable long-term family home for those with renovation plans.
2. Why is the assessed value above average on the street if the house is smaller?
The assessed value reflects both the structure and the land. The highly desirable, large lot size on Morley Avenue significantly contributes to the property's valuation.
3. What could I do with such a large lot?
Beyond gardening and outdoor recreation, the lot size is the key asset for future improvements. It comfortably allows for a home addition, a detached garage, or a spacious deck, subject to local zoning and permits.
4. How does the 2017 sale price relate to today's value?
The prior sale price (estimated between $250k-$300k in 2017) provides historical context, but current value is driven by today's market conditions, the above-average assessed value, and the unique lot size.
5. How can I get the exact historical sale prices?
The exact sold prices are not publicly posted online. You can request them via email from SaveOnHouse, which provides the information manually without using your email for unsolicited marketing.