Property Overview: 90 Balaban Place, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot. Built in 1976, the 845 sqft living space is modest and below average for its street, neighbourhood, and the wider city. However, it sits on a 7,498 sqft parcel of land, which is notably larger than most comparable lots in the Mission Gardens area and across Winnipeg. The assessed value is positioned below average locally but aligns closer to the city-wide median.
The primary appeal lies in this land-to-structure ratio. It suits a buyer who prioritizes outdoor space, privacy, and future potential over immediate square footage. It’s a practical choice for first-time buyers or downsizers comfortable with a smaller, efficient footprint who desire a sizable yard for gardening, pets, or recreation. The data also suggests it could attract an investor or renovator who sees value in the lot itself, with the existing home representing a manageable holding cost or redevelopment opportunity over the long term. It’s a property where the true asset may be the land it sits on.
Section 2: Frequently Asked Questions
1. Is the home in need of major updates?
Given its age (built 1976), prospective buyers should budget for updates. Major systems like roof, windows, plumbing, or electrical may be nearing or past their typical lifespan and should be inspected.
2. How does the low assessed value affect property taxes?
A below-average assessed value generally results in lower municipal property taxes compared to similar-sized homes on smaller lots in the area, which is a ongoing financial benefit.
3. What is the potential for expansion or redevelopment?
The large lot size is a key feature. Buyers should consult with the City of Winnipeg’s planning department to understand zoning bylaws, setback requirements, and the feasibility of additions, a new garage, or even future subdivision if permitted.
4. The last sale was between $250k-$300k in 2020. What does that indicate?
This past sale price, which was above average for the area at the time, may reflect the premium the market places on larger lots. It suggests the property has historically been valued for its land, not just its living space.
5. Are the neighbouring properties similar?
Nearby homes on Balaban Place are of similar vintage but, on average, have slightly more living space on smaller lots. This means 90 Balaban Place may feel more private or spacious, but its footprint is comparatively compact.