Property Overview: 140 Malcana Street, Winnipeg
Section 1: Key Characteristics & Appeal
This River East home presents a compelling opportunity centered on its exceptional lot size. Built in 1979, the 1,392 sqft living area is typical for the street and city, offering comfortable, familiar layouts common to the era. The true standout feature is the 13,812 sqft land parcel, which ranks in the top 2-4% of comparable lots locally, providing immense outdoor space rarely found in this market.
Its appeal lies in a balanced profile: it’s a home with above-average assessed value for the area, indicating perceived quality and desirability, paired with a generational-sized yard. This combination suits buyers prioritizing long-term outdoor potential—such as gardening, expansion, or private recreation—over a brand-new build. It’s ideal for families seeking space to grow, DIY enthusiasts with room for projects, or anyone valuing land as a primary asset. The property offers a "blank canvas" backyard in an established neighborhood, a trade-off that appeals to those who see more value in land than in recently renovated interiors.
Section 2: Frequently Asked Questions
1. How does the home’s condition compare to others on the street?
While specific interior details aren’t provided here, the assessed value is above the street average, suggesting the municipality views the property’s overall condition and features favorably compared to its neighbors.
2. What are the implications of such a large lot?
Beyond privacy and space, a lot of this size may offer future potential like additions or outbuildings (subject to zoning bylaws), but it also means higher maintenance and potentially higher property taxes relative to lot size.
3. The last sale was in 2017. Why is that relevant?
The previous sale price provides a historical benchmark, showing market activity from that period. To understand current value, this should be compared with recent, verified sales of similar homes, which may require a professional lookup.
4. The living area is described as "around average." Is that a disadvantage?
Not necessarily. It means the home’s size is typical and functional for the area, which can be an advantage for resale. The standout feature is the land, not the square footage of the house itself.
5. The home was built in 1979. What should I consider?
Homes of this age may have original components, like windows, roofing, or major systems, that are nearing or past their typical lifespan. A thorough inspection is essential to budget for potential updates, which is a common consideration for well-maintained homes in established neighborhoods.