Property Overview & Appeal
This 1956-built, one-storey home in Ridgedale offers a unique proposition centered on space and potential. Its key characteristic is an exceptionally large, approximately 17,664 sqft lot, placing it in the top 2% of all Winnipeg properties for land size. The 1,555 sqft bungalow features a finished basement and an attached garage. While the home itself is of average size for the area and the building is 70 years old, the property's primary appeal lies in its rare, expansive grounds within the city. It ranks highly for lot size, living area, and assessed value within its immediate neighborhood.
This property would best suit a buyer who values outdoor space and long-term potential over a turn-key modern home. It's ideal for someone looking for a large garden, room for future additions like a workshop or extensive landscaping, or even subdivision potential (subject to municipal approval). It appeals to those who see the value in the land itself and are comfortable with a home that may require updates over time. A less obvious perspective is that such a large lot in a mature neighborhood offers a rare sense of privacy and room to breathe that is typically found only in more rural settings, all while maintaining city amenities.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 2% in Winnipeg") actually mean?
This data compares the property against others in its street, neighborhood, and the entire city. For example, its lot size is larger than 98% of all Winnipeg properties, making it a standout feature. Conversely, its build year is older than most, indicating a classic home that may require maintenance or modernization.
2. Is the finished basement included in the 1,555 sqft living area?
Typically, the main living area (1,555 sqft) refers to above-grade square footage. The finished basement is an additional bonus space, adding functional room to the property beyond the listed figure.
3. What are the implications of such a large lot?
Beyond generous outdoor space, it can mean higher property taxes relative to similar-sized homes on smaller lots, and greater responsibility for maintenance. However, it also presents opportunities not found with standard lots, such as gardening, adding recreational structures, or holding long-term investment value in the land itself.
4. Who would this older home not suit?
Buyers seeking a low-maintenance, modern property with recent updates and newer systems (like plumbing, electrical, or windows) may find the age and potential renovation needs of a 70-year-old home less appealing. The value here is weighted toward the land.
5. How should I interpret the assessed value?
The municipal assessment of $465,000 is used for calculating property taxes and indicates its value relative to other homes in the area (ranking higher than 77% in Winnipeg). It is a formal valuation point, but the final market sale price can differ based on condition, market trends, and buyer demand for a lot of this unique size.