Property Overview: 71 Greendell Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct profile defined by its generous lot and vintage charm. Built in 1946, it is notably older than most homes in its immediate area and across Winnipeg. The living space of 1,048 sq ft is modest, placing it below the average for the neighbourhood. However, its true standout feature is the land: at 8,788 sq ft, the lot is significantly larger than typical city-wide and area lots, offering substantial outdoor space and potential.
The appeal lies in this unique balance. The assessed value is positioned around the city-wide average, suggesting the market recognizes the value of the large lot, even with a smaller, older home. It’s a property where the land is the primary asset. This would suit a buyer looking for a long-term project—someone comfortable with the maintenance and potential updates an 80-year-old home requires, but who values private outdoor space for gardening, expansion, or simply room to breathe. It’s less suited for those seeking a modern, move-in-ready home or maximum interior square footage.
Section 2: Frequently Asked Questions
1. Is the house in need of major renovation?
Given its age (1946), which is among the oldest in the area, buyers should budget for updates. While condition isn't detailed here, the vintage suggests potential systems (like plumbing, electrical, or the roof) may require inspection and investment.
2. How does the large lot impact property taxes?
The assessed value of $370k is influenced by both the house and the sizable lot. While the lot adds value, taxes are based on the total assessment. It’s wise to compare the actual tax amount with similar-valued properties on standard lots.
3. What does the sold price history indicate?
The home sold between $300k-$350k in 2022 and $250k-$300k in 2019. This shows appreciation, but the wide ranges are estimates. Requesting the exact sold price from the provided service is necessary for precise financial analysis.
4. Can the large lot be subdivided for development?
This is a complex question. While the lot is large, subdivision depends on specific municipal zoning bylaws for Minnetonka. A buyer interested in this possibility must consult the city’s planning department directly.
5. How does this home rank for investment potential?
Its rankings are mixed. It scores highly for land area but lower for year built and living area. This indicates the investment is primarily in the land. Long-term value may hinge more on the land's potential and neighbourhood trends than on the current structure.