Property Summary: 97 Woodlawn Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home stands out for its substantial size and generous lot, offering a rare combination of space both inside and out. With 2,734 square feet of living area, it ranks in the top 2-4% compared to homes on its street, in the Minnetonka area, and across the entire city. The property is situated on an 11,355 sqft lot, which places it in the top 4-10% citywide, providing exceptional outdoor potential. Built in 1974, it is newer than many neighbouring homes on Woodlawn Avenue.
The primary appeal lies in its elite-tier metrics for space and land, suggesting a property that offers more room than the vast majority of comparable listings. The assessed value of $68,700 is notably the highest on its street (top 1%), indicating it is viewed as a premium property in its immediate locale.
This home would best suit buyers who prioritize ample interior space for a growing family or home-based needs, along with buyers who value a large, private yard for recreation, gardening, or future expansion. It’s also a compelling option for those looking for a property with standout equity and characteristics in its neighbourhood, offering a sense of established value.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
While the assessed value for taxation purposes is $68,700, the last known sold price was between $550,000-$600,000 in 2020. Market price is influenced by many factors beyond the assessed value, including condition, updates, and current market trends.
2. The home is newer than others on the street. What might this mean?
Being built in 1974 while the street average is 1952 could suggest updated construction methods, floor plans, or systems compared to the original neighbourhood homes. It may also indicate the lot was developed later.
3. What are the implications of such a large lot size?
A lot size in the top 4% citywide offers significant privacy, space for additions like a garage or suite (subject to zoning), and extensive landscaping possibilities. It also often contributes to long-term property value.
4. The home sold in 2020. What can that price range tell me?
The $550k-$600k sale five years ago provides a historical benchmark. Understanding how prices have changed in the area since then, combined with any improvements made to the home, will be key to evaluating its current value.
5. Why is the city-wide average assessed value so much higher?
The city-wide average of $390k includes assessments from all home types and neighbourhoods across Winnipeg. This property’s assessed value is compared against "comparable homes" in its group, which is a more relevant metric than the overall city average.