Property Overview
This home presents a distinct value proposition centered on its generous lot and established neighborhood, balanced against a smaller-than-average living space. Its 692 sqft interior is notably compact, ranking in the bottom 3-7% for size across the street, Victoria West community, and Winnipeg overall. This is offset by a land area of over 5,200 sqft, which is significantly larger than most lots on its street and in the immediate area. Built in 1950, the house is newer than many in its historic neighborhood. The assessed value for taxes is close to the local average but sits below the citywide average, suggesting a relatively accessible entry point into the market.
Its appeal lies in the opportunity to secure a sizable lot in a mature, central community without the premium typically attached to larger homes. It perfectly suits practical buyers—such as first-time purchasers, downsizers, or investors—who prioritize land potential and location over immediate square footage. The property is a canvas: ideal for those comfortable with a cozy, efficient layout as-is, or for visionaries who see the long-term potential to expand the home (where bylaws allow) to match the lot's capacity. It’s a strategic purchase for land value in a well-regarded area.
Frequently Asked Questions
1. Is the house too small for comfortable living?
It depends on your needs. At 692 sqft, it offers efficient, manageable living spaces suitable for 1-2 people. It requires thoughtful organization and may not accommodate a large family or those needing multiple dedicated rooms.
2. Why is the assessed value close to the area average when the house is much smaller?
The assessment reflects both the building and the land. While the structure is modest, the lot size is well above average for the street and community, contributing significantly to the overall assessed value.
3. What are the advantages of such a large lot?
The 5,264 sqft lot provides exceptional outdoor space for gardens, recreation, or storage. Crucially, it may offer future potential for additions, a laneway home, or a garage, subject to zoning and permit approvals.
4. As a 1950s build, what should I be concerned about?
While newer than many area homes, it still requires a thorough inspection for era-specific updates. Key focuses should be the condition of the roof, wiring, plumbing, insulation, and whether original windows have been upgraded.
5. The rankings show the living space is "below average." Is this a major drawback?
It's the defining characteristic. It's not a drawback if your lifestyle fits the space, but it is a significant consideration for resale. It attracts a specific buyer segment, which can be an advantage in pricing but may mean a narrower pool of interested parties when selling.