Property Overview & Key Characteristics
This property is defined by its impressive 22,198 sqft lot, a rare and substantial footprint that places it in the top 1% of all residential lots in Winnipeg. The home itself is a modest 838 sqft, one-storey bungalow built in 1956, featuring a finished basement and an attached garage. Its primary appeal lies in the extraordinary potential of its land. The lot size offers unparalleled privacy, space for expansion, gardening, or recreational use in a city setting. It suits two distinct types of buyers: first, the visionary or builder looking for a prime lot to eventually redevelop or significantly renovate; and second, the buyer who prioritizes vast outdoor living space over a large interior and is comfortable with a home that requires updates. A less obvious perspective is the long-term value play—owning one of the largest lots in the city is a finite opportunity, often appreciating independently of the structure on it.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others. For example, its lot size is better than 99% of Winnipeg homes, making it exceptionally large. However, its living area is smaller than most, and its age is greater than about two-thirds of city homes, providing clear context on its strengths and trade-offs.
2. Is the house in move-in condition?
The listing notes a finished basement but does not specify recent renovations. Given the home's age (70 years) and smaller size, prospective buyers should budget for modernizing updates to systems, kitchen, and bathrooms to align with contemporary standards.
3. What are the possibilities for the large lot?
The half-acre lot presents multiple options: preserving it as a massive private yard, adding substantial additions to the existing home, subdividing (subject to city zoning approval), or future redevelopment. The value of the property is heavily weighted toward the land itself.
4. How does the assessed value relate to the asking price?
The city's assessed value is $394,000 for tax purposes, which is a historical benchmark. The listing price is not provided here, but in practice, the sale price for a unique property like this is often influenced more by its development potential and market demand than by the standard assessment.
5. What are the considerations with a 1956-built home?
While built solidly, a home of this age may have original plumbing, electrical, and insulation that would benefit from inspection and potential upgrading. The finished basement should also be checked for proper moisture management, a common consideration for older Winnipeg homes.