Property Overview
This home presents a compelling opportunity centered on space and value. Its primary appeal lies in the exceptionally large, nearly 12,000 sqft lot, which ranks in the top 4% of all properties in Winnipeg for size. The house itself is a 1,561 sqft two-storey with a finished basement, built in 1970. Recent market activity is notable: the property sold for $675,000 in November 2024, a significant increase from its $395,000 price in late 2021, indicating strong appreciation and active buyer interest.
The home would suit buyers prioritizing outdoor space for gardening, recreation, or future expansion over a brand-new build. It’s also a match for value-conscious purchasers who see potential in a solid home on a premium lot, willing to update interiors over time. The data suggests it outperforms most homes in the city for lot size and recent value growth, offering a rare combination of urban convenience with a semi-rural feel right in the city.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, neighborhood, and all of Winnipeg. For example, its lot size is in the 96th percentile city-wide, meaning it's larger than 96% of Winnipeg properties. Its recent sale price also places it in the top 4% city-wide for transaction value.
2. Is the 1970 build year a concern?
While the home isn't new, its core appeal is the land. The build year is older than about 74% of homes in its community, so buyers should budget for potential updates to systems like plumbing, electrical, or windows, which is typical for homes of this era.
3. Why did the price increase so much between 2021 and 2024?
The sharp increase reflects the hot market trends of those years, but also likely underscores the growing premium buyers are placing on very large lots within the city limits. The final sale price significantly exceeded the 2024 assessed value, showing high demand for this specific property type.
4. What is the neighborhood like?
The data shows the home ranks highly within its own community (River Park South), outperforming 73% of neighborhood homes for lot size and 81% for its latest sale price. This suggests it's one of the larger, more valuable properties in a well-established area.
5. What are the less obvious considerations?
A lot of this size comes with higher maintenance (lawn care, landscaping) and potentially higher property taxes relative to houses on standard lots. However, it offers unparalleled privacy and space for a city property. The finished basement adds liveable space but checking for moisture issues common in older Winnipeg basements would be prudent.