Property Overview
This home at 1101 Salter Street in Winnipeg's Margaret Park neighbourhood presents a compelling opportunity defined by its generous lot and solid value. Built in 1965, the 1,186 sqft house sits on a notably large 7,239 sqft parcel of land, which is its most standout feature. This lot size ranks in the top 3% on its street and the top 7% in the wider neighbourhood, offering rare potential for expansion, gardening, or outdoor space in a city setting. The home's assessed value is strong for the immediate area, ranking above average on Salter Street.
Its appeal lies in this land-to-structure ratio. While the living area is modest and typical for the city, the property is suited for buyers who see potential in the land itself—whether for future renovations, adding a garage or workshop, or simply prizing ample private outdoor space. It would particularly suit a practical buyer looking for a foothold in a mature neighbourhood without a premium lot-size price, or someone with longer-term plans to customize their living space. The 2022 sale price suggests it has been seen as a value proposition in recent years.
Frequently Asked Questions
What does the "Elite" ranking for Land Area actually mean?
It means this property's lot size of 7,239 sqft is larger than 97% of the 96 comparable properties on Salter Street. In practical terms, you're getting significantly more land than is typical for the area.
Is the assessed value the same as the market value?
No. The assessed value of $32,700k is for municipal tax purposes. Market value is determined by what buyers are willing to pay, as suggested by its 2022 sale in the $300k-$350k range.
The home was built in 1965. What should I consider?
While newer than many homes on its street, a house of this age will likely have had several updates. A thorough inspection is key to understand the condition of major systems like plumbing, electrical, and the roof, and to identify any modernization that has already been done.
How does the living space compare to nearby homes?
At 1,186 sqft, the living area is slightly below the average for both Margaret Park and the city overall. This indicates the home itself is comfortable but not oversized, placing the focus and value more on the substantial lot it sits on.
Why is the city-wide average assessed value so much higher at $390k?
The city-wide average includes all types of homes across all neighbourhoods. The much lower average for this property's group reflects the specific market and character of homes in its category and area, making direct city-wide comparisons less useful.