Property Overview: 100 Wexford Street, Winnipeg
Key Characteristics & Appeal
This 1930s one-storey home sits on a notably large, nearly 10,000 sqft lot in the Vialoux neighbourhood. Its primary appeal lies in this expansive land, which places it in the top 6% of all Winnipeg properties for lot size, offering significant space and potential. The house itself is modest at 808 sqft with an unfinished basement, presenting it as a classic "value-add" opportunity. Its recent assessed value is higher than its last sale price in 2017, suggesting room for equity growth.
This property would best suit a specific type of buyer: the hands-on renovator, the land-value investor, or someone seeking an affordable entry into a mature neighbourhood with the future flexibility to expand, build a garage, or enjoy substantial outdoor space. It’s a play on potential rather than a move-in-ready home. A less obvious perspective is its appeal for multi-generational living plans; the large lot could accommodate a future secondary suite or addition, a valuable option not readily available in newer, denser subdivisions.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
The ranking indicates that this property’s lot is larger than 94% of all residential properties in Winnipeg, making it a rare find for its generous outdoor space and development potential within the city.
2. Is the house in need of major repairs?
While the condition isn’t detailed, the age (96 years), unfinished basement, and the fact it’s marketed as a value opportunity strongly suggest it requires modernization and likely significant updates to systems, insulation, and finishes.
3. Why is the assessed value higher than the last sale price?
Municipal assessments consider various factors and may reflect the underlying land value and market trends. The discrepancy often indicates the city sees growth potential, but the market price will ultimately be determined by what buyers are willing to pay for its current condition and future potential.
4. What can I do with such a large lot?
Beyond a large garden or private yard, possibilities could include adding a substantial garage or workshop, creating outdoor living areas, or even exploring future subdivision or building an addition, subject to local zoning and bylaws.
5. How does the age affect insurance and maintenance?
Homes of this era may have outdated wiring, plumbing, or insulation, which can affect insurance premiums and require a dedicated maintenance or renovation budget. An inspection is crucial to identify any latent issues common to houses of this vintage.