Property Overview
This single-storey home at 3000 St. Mary's Road in Winnipeg's St. Vital Perimeter South area presents a unique proposition centered on its land. The nearly 2-acre lot (87,158 sq ft) is its most defining characteristic, placing it in the top tier for size locally. The 1,444 sq ft house, built in 1973, features a renovated basement and a detached garage. Its appeal lies in the exceptional potential of its expansive grounds, offering a rare sense of space and privacy within the city. The property suits a buyer with a vision—whether for gardening, recreational space, or future development—who values land size over a newer or larger home. It's a solid, no-frills foundation on a canvas of land that is increasingly hard to find.
Key Considerations & FAQs
1. Why is the assessed value so much lower than nearby properties?
Municipal assessments primarily reflect a property's value for taxation purposes and can lag behind market values, especially for unique properties. This assessment likely emphasizes the older home while underweighting the premium value of its massive, developable lot in today's market.
2. What does the large land size actually mean for a buyer?
Beyond privacy and space, it offers long-term flexibility. It could accommodate extensive landscaping, outbuildings (subject to bylaws), or even future subdivision potential, making it a strategic purchase as much as a residential one.
3. The home sold for $51,300 in 2020. Is the current price justified?
The 2020 sale price reflects a different market and may not be a relevant benchmark today. The significant equity increase since then is likely tied to the soaring value of developable land in Winnipeg, not just the house itself.
4. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without any projects. The appeal is the land; the 1973-built house requires a buyer comfortable with its era or willing to invest in updates over time.
5. Are there any drawbacks to such a large lot?
Potential buyers should consider higher property taxes relative to the house size, increased maintenance (like lawn care or snow clearing), and should investigate any zoning restrictions or easements that might affect future use plans.