Property Overview: 87 Wexford Street, Winnipeg
Key Characteristics & Appeal
This 1959-built, one-storey home sits on an exceptionally large, 16,372 sqft lot—a rare find that places it in the top 2% of all properties in Winnipeg for land size. With 997 sqft of living space and a finished basement, the house offers practical, single-level living. Its standout feature is undoubtedly the expansive yard, offering immense potential for gardening, recreation, or future expansion. The property's assessed value ranks highly within its immediate area, suggesting a solid foundation of value.
The appeal here is multifaceted. For the practical buyer, it's a manageable home with a finished basement and a detached garage on a low-maintenance single level. For the visionary, the vast lot represents a blank canvas for creating a private urban oasis, adding significant square footage, or even subdivision potential (subject to municipal approval). It perfectly suits buyers who prioritize land over lavish interiors—whether they're growing families seeking space for children and pets, downsizers wanting a large garden without staircases, or investors recognizing the long-term value of such a sizable parcel in the city.
Frequently Asked Questions
1. What does the lot size ranking actually mean?
The property's lot is larger than 98% of all residential lots in Winnipeg, making it a truly uncommon offering. In its specific neighborhood and on its street, it also ranks in the top 6-12%, confirming the lot is a major asset in the local context.
2. The house was built in 1959. What should I be aware of?
While the home has been maintained, a building of this age will likely have original components, such as the roof, windows, or major systems, that are at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and plan for any updates.
3. Is the finished basement included in the 997 sqft living area?
No. The 997 sqft figure refers to the above-ground living space. The finished basement provides additional usable area, which is a significant functional bonus not reflected in the official square footage.
4. The home's size ranks lower than the lot size. Is that a concern?
This is the defining characteristic of the property. The house itself is modest and ranks in the bottom 30-40% for size in its area. This isn't a drawback but rather the core opportunity: you are primarily purchasing the land, with a livable house included. The value and potential lie in what the land allows.
5. How does the assessed value relate to the likely selling price?
The assessment value of $441,000 is for municipal tax purposes and ranks in the top quarter locally. It indicates a strong baseline of value for the area, but the final sale price will be determined by market demand, condition, and the unique premium that such a large lot may command.