Property Overview
This 898 sqft bungalow at 754 Fleming Avenue, built in 1956, presents a specific value proposition in Winnipeg's Munroe East neighbourhood. Its key characteristic is a notable imbalance between its modest living space and its generous, nearly 5,000 sqft lot. The home itself is smaller than most comparable properties on its street, in the area, and across the city. However, its assessed value ranks highly within its immediate locale, suggesting the land itself is a significant driver of its worth. Recent sale history indicates active market interest with a sold price between $350k-$400k in 2024.
The appeal lies in this potential. It is a classic "value in the land" property, suited for buyers with a vision for expansion or redevelopment. It would perfectly suit a handy homeowner looking to gradually renovate and extend the existing footprint, or an investor/builder who sees the lot as the primary asset. For the right buyer, the smaller house means lower immediate renovation costs to make it liveable, while the large lot provides long-term optionality. A less obvious perspective is that a home of this size on such a lot can also appeal to those seeking minimal indoor maintenance but ample private outdoor space for gardens, recreation, or pets.
Frequently Asked Questions
1. Is the house in livable condition, or is it a tear-down?
The listing does not specify the interior condition. The recent sale history suggests it is habitable, but viewing the property or requesting a disclosure statement is essential to understand if it requires cosmetic updates, major systems repairs, or is a candidate for full replacement.
2. What does the high assessed value relative to the street indicate?
It primarily reflects the value of the land. Having an assessed value in the top 10% on Fleming Avenue, while the house is below average in size, signals that the property is assessed more for its lot potential than its current structure. This can influence property taxes.
3. Are there restrictions on expanding the house or rebuilding?
This is a critical question. Buyers interested in using the large lot must verify zoning bylaws with the City of Winnipeg regarding allowable building coverage, setback requirements, and the potential for adding a second suite or building a new home.
4. Why is the city-wide assessed value comparison so different?
The data shows the assessed value is "around average" city-wide. This highlights how property values are hyper-local. The $33.4k assessment is high for its specific street and neighbourhood context, but aligns with a broad city average, which includes a wide variety of property types and areas.
5. How reliable are the sold price ranges shown?
The site states these ranges are based on public data and some months may be missing. For the exact sale price, which is important for accurate market analysis, you must request it directly from the site via email, as they provide that detail manually.