Property Overview: 1185 Clarence Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct profile centered on land value and renovation potential. Its key characteristic is a generous 6,368 sqft lot, which is notably larger than many lots in the Maybank area and across Winnipeg. This is contrasted by a compact 804 sqft house built in 1926, placing it among the older homes in its immediate vicinity. The assessed value is modest, reflecting the home's age and size.
The primary appeal lies in this combination of a sizable lot in a mature neighbourhood with a lower entry price. It suits a specific type of buyer: those looking for a land play, a hands-on renovator or builder seeking a "blank canvas," or an investor interested in long-term property value driven by land. It is less suited for buyers seeking a move-in-ready or spacious home without renovation plans. A thoughtful perspective is that this property trades immediate comfort for future potential; its value is more in what could be built than in what currently exists, making it a strategic purchase rather than a lifestyle one.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the current state of the 804 sqft structure, which is significantly smaller and older than the Winnipeg average. Value here is weighted more toward the land itself.
2. What does the lot size allow for?
At over 6,300 sqft, the lot is well above average for the area. This could allow for substantial additions, a garden suite (subject to zoning), or simply provides abundant outdoor space rarely found at this price point.
3. How does the 1926 build year affect things?
It indicates a need for a thorough inspection to understand the condition of foundational systems (wiring, plumbing, insulation). While it requires diligence, it also offers the character and build quality of an older home.
4. The home last sold between 200k-250k in 2020. Is the price likely similar now?
Market conditions change, but that past sale price gives a benchmark. Given the modest assessment, its value is less volatile than larger, renovated homes, but the land component provides a stable floor.
5. Who are the most likely buyers for this property?
The most likely buyers are renovators, builders looking for a infill or redevelopment opportunity, or investors with a long-term hold strategy who understand that its appreciation will be closely tied to land value increases in Maybank.