201 Leila Avenue

Property Overview: 201 Leila Avenue, Winnipeg

Key Characteristics & Appeal

This home at 201 Leila Avenue in Margaret Park presents a distinct profile defined by its generous space and land. Its primary appeal lies in its above-average living area (1,426 sq ft, ranking in the top 10% for its street) and a notably large lot (6,658 sq ft, also in the top 10% locally). This combination offers significant potential for expansion, gardening, or outdoor living—a rarity compared to many neighbouring properties. The house itself is a 1922 character home, which may appeal to those interested in heritage or renovation projects.

The property’s assessed value is notably lower than area averages, which could indicate an opportunity for a buyer looking to add value through updates. This profile would suit a practical buyer—perhaps a hands-on homeowner, an investor with a vision for renovation, or a family seeking a large yard in a mature neighbourhood—who is less concerned with modern finishes and more focused on the inherent value of space and land. A less obvious perspective is that the low assessment, while reflecting its current state, might also suggest manageable property taxes relative to the lot size, which is a long-term financial benefit.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's current condition and market factors as evaluated by the municipal assessor. For a 1922 home, this lower assessment often reflects the age of the home and likely the need for modernization, not the value of the land itself.

2. What does the "top 92%" ranking for assessed value mean?
This means the property’s assessed value is in the bottom 8% compared to others on Leila Avenue. It ranks 308th out of 333 properties, indicating it is assessed lower than the vast majority of its immediate neighbours.

3. Is the large lot size a benefit for future plans?
Absolutely. A lot of this size (over 6,600 sq ft) in a mature neighbourhood is a significant asset. It provides ample space for additions, a garage, outdoor recreation, or landscaping, offering flexibility that smaller lots do not.

4. How recent are the sold price figures shown?
The listed sale range of CA$200k–250k is from 2023. For the exact, verified sold price, you must request it directly via the provided email service.

5. What should I consider about a home built in 1922?
While offering character, a home of this age will likely require careful attention to foundational elements, wiring, plumbing, and insulation. A thorough inspection is essential to understand the scope of any needed maintenance or updates to meet modern standards.