Property Overview
23 Millfield Drive is a 1,112 sqft bungalow built in 1947, situated on a large 10,941 sqft lot in Winnipeg's Minnetonka neighborhood. Its key characteristics present a mix of modest home size with a standout land parcel, offering a specific value proposition.
Key Characteristics & Appeal
The primary appeal of this home lies in its land. The lot size is well above average for both the city and the local area, ranking in the top 5% and 13% respectively. This offers significant outdoor space, potential for expansion, or future development, which is increasingly rare. In contrast, the living area of the home itself is around average, and its 1947 build date means buyers should anticipate maintenance or updates common to houses of that era.
The assessed value is notably below average for the immediate street and neighborhood, which can indicate a lower property tax burden but often correlates with the older home condition. Recent sale history shows a clear appreciation, with the 2025 sale price range reflecting a substantial increase over the 2022 sale.
This property would best suit a practical buyer who values land over turnkey luxury. It's a strong fit for someone looking for a long-term home with room to grow, a DIY enthusiast willing to update an older house, or an investor who sees value in the sizable lot for future potential.
Frequently Asked Questions
1. Is the house in need of major renovation?
Given its 1947 build date, which is older than most homes on the street and in the area, buyers should budget for updates. A professional inspection is essential to identify the condition of major systems like plumbing, electrical, and the roof.
2. Why is the lot size so significant?
The lot is exceptionally large compared to most city properties. This provides ample yard space, greater privacy, and potential for additions like a garage, workshop, or garden. It also represents a long-term asset, as land value is a key driver of property appreciation.
3. How does the assessed value impact property taxes?
A below-average assessed value for the neighborhood typically results in lower municipal property taxes. However, it's important to note that assessed value is not market value; the recent sale price is a more accurate reflection of its current worth.
4. Has the property value increased?
Yes. The reported sale price ranges indicate a significant increase from the 2022 sale to the 2025 sale, suggesting strong market appreciation for this specific home and lot combination in recent years.
5. What is the neighborhood like for families?
Minnetonka features a mix of older and newer homes. The above-average lot sizes on Millfield Drive contribute to a less crowded feel. Prospective buyers should research local schools and amenities to see if they meet their family's needs.