Property Overview
This home at 116 St Michael Road in Winnipeg's Pulberry neighborhood presents a distinct value proposition centered on its generous lot. Built in 1947, it is an older home in an area of mostly newer builds, offering a classic character alongside a standout piece of land.
Key Characteristics, Appeal & Ideal Buyer
The defining feature of this property is its expansive 13,842 sqft lot, which ranks in the top 3% for size both in the neighborhood and city-wide. This offers exceptional outdoor space, rare for the area, with potential for gardening, expansion, or simply enjoying a large private yard. The 1,272 sqft living area is modest but above average for its specific street, providing comfortable, functional space.
Its appeal lies in this land-to-house ratio. For the price of a home with average assessed value for the city ($383k vs. $390k average), you secure a lot size that is more than double the local norm. This makes it a strategic purchase for a buyer willing to invest in the home itself over time. The recent sale in late 2024 within the $400k-$450k range confirms its market value is aligned with these characteristics.
This property would best suit a buyer who values long-term potential and outdoor space over immediate modern finishes. It's ideal for a hands-on owner comfortable with the maintenance of an older home (built 1947) who sees the lot as a primary asset—whether for family recreation, future renovation, or the enduring value of land in a developed area.
Frequently Asked Questions
How does the age of the home (1947) affect its value and appeal?
While the home is older than most on the street and in Pulberry, this is reflected in its assessed value being around the area average. The appeal is in the classic structure and the significant lot it sits on, offering a trade-off between vintage charm and modern convenience.
Is the lot size truly unusual for Winnipeg?
Yes. The lot is in the elite 3rd percentile city-wide, meaning only 3% of comparable homes in Winnipeg have a larger land area. In Pulberry, it's also in the top 3%. This is the property's most standout statistical feature.
The home recently sold. What does the sale price indicate?
The late 2024 sale in the $400k-$450k range placed it in the top 5% of sales on St Michael Road for that period, suggesting strong demand for properties with these specific attributes, likely driven by the lot size.
How does the living space compare to the neighborhood?
At 1,272 sqft, the living area is slightly below the Pulberry average but is actually above average for homes directly on St Michael Road. It offers a comfortable size that is efficient rather than expansive, focusing the property's square footage on the land.
What is the realistic trade-off for a buyer here?
The trade-off is clear: you are acquiring a premium-sized lot with a home that requires acknowledgment of its age. The value is in the land and the potential it holds, making it a better fit for a buyer focused on location and future possibilities rather than a move-in-ready, modern interior.