Property Overview: 56 Greendell Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of a generous lot and a well-established location. Built in 1962, its 1,139 sqft living area is fairly typical for the street and city, but the property stands out for its 10,900 sqft land parcel. This lot size is significantly above average for both the wider Minnetonka area and the city as a whole, ranking in the top 5% city-wide. The assessed value of $520k is notably above average across all comparison levels, suggesting the municipality sees substantial value here, likely in the land and location.
The primary appeal lies in this land potential. It’s a property where the value is anchored more in what you could do—expansive outdoor space, gardening, future additions, or redevelopment—rather than in a large or modernized interior. It suits a buyer who values space and privacy over turn-key perfection, such as someone looking for a long-term family home with room to grow, a renovator seeking a solid foundation on a premium lot, or an investor recognizing the underlying land value in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring homes?
The assessed value is a municipal estimate for taxation, not market price. Its "above average" ranking here is strongly influenced by the property's large lot size, which is a major factor in assessment calculations, especially in an established neighbourhood.
2. Is the house itself outdated?
Built in 1962, the home is of an age where major systems (roof, wiring, plumbing, windows) may need evaluation or updating. This represents both a consideration for immediate upkeep and an opportunity for a buyer to customize renovations to their own taste.
3. What can I do with such a large lot?
Beyond a spacious yard, a lot of this size may offer flexibility for additions like a garage, workshop, or sunroom, subject to local zoning bylaws. It provides a rare sense of openness and privacy for the area.
4. How does the last sold price (2021, $500k-$550k) relate to today's value?
The 2021 sale price provides a historical benchmark. The current higher assessed value and market conditions since then mean the current expected market value would be determined by recent comparable sales, which aren't provided in this data set.
5. The living area is smaller than the area average. Is the house cramped?
At 1,139 sqft, the home is functionally sized for many households. The key perspective is the trade-off: you are acquiring a land footprint that is far more rare and valuable than a slightly larger house on a standard lot. The livable space is adequate, but the true premium is in the outdoor space.