Property Overview
This 1927 one-storey home on a large 8,291 sqft lot presents a distinct opportunity. Its key appeal lies in the substantial, mature lot in a long-established neighbourhood, offering rare potential for expansion, gardening, or outdoor space that is hard to find in newer subdivisions. With 872 sqft of living space and no basement, it suits buyers looking for a manageable, single-level footprint. The property ranks highly for its lot size within Winnipeg (top 10%) but is a century-old home, so it appeals most to value-conscious buyers, renovators, or those with plans to build new. It’s a property where the land is the primary asset, ideal for someone with a vision for the space rather than a turn-key home seeker.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in its neighbourhood, and across Winnipeg. For example, its lot size is in the top 10% city-wide, but its age and living area are more common, placing it in the top 85% and 84% (meaning only 15% and 16% of homes are older or smaller). This highlights a large lot with a modest, older home.
2. Is the lack of a basement a major drawback?
It depends on your needs. It limits storage and mechanical systems space, which is a consideration for renovations. However, it also means no risk of basement flooding or costly below-grade repairs, which can be a welcome positive for some buyers.
3. Who would this property suit best?
It's well-suited for a hands-on buyer, whether that's someone planning a thoughtful renovation, an investor considering future redevelopment due to the lot size, or a purchaser who prioritizes a large, private yard over a large house.
4. The house is nearly 100 years old. What should I prioritize in an inspection?
Beyond standard checks, focus on the foundation and structure due to its age, the condition of the roof, wiring, and plumbing, and look for any signs of past moisture issues, especially given the lack of a basement where problems might manifest in the main floor.
5. How does the assessed value relate to the likely selling price?
The assessed value ($306,000) is for municipal tax purposes and is a data point. In markets with high demand for land, properties like this—where the lot value is significant—can sell above assessment, especially if buyers see development potential. It’s best to compare recent sales of similar lots.