Property Overview
83 Lusted Avenue in Winnipeg’s North Point Douglas neighbourhood presents a distinct and compelling opportunity. Its defining feature is the significant space it offers, both inside and out, at a notably low municipal assessed value.
Key Characteristics & Appeal
This home is defined by its generous proportions. With 2,395 square feet of living space, it ranks in the top 4% of homes in its immediate area and top 4% city-wide for size, offering far more room than the average Winnipeg house. This is complemented by a large 5,751 sqft lot, which is well above average for the street and neighbourhood. The trade-off for this space is reflected in the property’s age and assessed value. Built in 1884, it is one of the older homes in the city. Its assessed value of $92,000 is significantly below averages for the street, neighbourhood, and especially the wider city, where the average is over $390,000.
The primary appeal lies in this combination: acquiring substantial square footage and a large lot for a very low entry price. It suits a specific type of buyer: those with renovation experience or a budget for updates who are prioritizing space and land over move-in-ready condition. It’s a potential project for an investor, a large family needing room to grow, or a buyer looking to build significant equity through improvements. The low assessment also suggests a potentially lower property tax burden relative to the physical size of the asset.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal evaluation, which considers factors like age, condition, and recent sales in the area. For a home built in 1884, the age and likely need for modernization are significant factors, resulting in a lower assessment compared to newer homes city-wide.
2. What does the "Elite" ranking for living area actually mean?
It means that, purely by square footage, this home is larger than approximately 96% of all homes in Winnipeg. This highlights the property’s greatest strength: it offers an unusual amount of interior space for the market.
3. Are there any recent sale prices available for this home?
No sales history is shown for this listing. According to the site’s notes, exact sold price data requires a manual request, as it is not sourced from the MLS system to comply with industry rules.
4. What are the main considerations with a home this old?
Buyers should budget for and investigate systems common in century-old homes, such as the foundation, plumbing, electrical wiring, and heating. While it offers great space and character, its maintenance needs and renovation costs will be a primary factor.
5. How does the large lot size benefit a buyer?
The above-average lot provides valuable outdoor space, potential for gardening, parking, or additions, and more privacy than smaller lots in the neighbourhood. It also represents a long-term land value holding in an area where lots are typically smaller.