Property Overview
This 1971 four-level split home sits on a remarkably large, mature lot of over 47,000 sqft in Wilkes South. Its primary appeal lies in the rare combination of a spacious, 2,000+ sqft family home with an exceptionally private, park-like setting that is uncommon within the city. The property ranks in the top 1% in Winnipeg for lot size, offering immense potential for gardening, recreation, or future expansion. With a finished basement and a solid price appreciation history—evidenced by its 2022 sale—it presents as a well-established, grounded family home.
It would best suit buyers who prioritize outdoor space and privacy over a brand-new build. It’s ideal for a family seeking room to grow, a hobbyist or gardener craving a large canvas, or a value-conscious buyer looking for a property with significant underlying land value in a mature neighbourhood. The home appeals to those who see the charm and potential in a classic split-level layout and are comfortable with a property that has a lived-in history.
Key Questions & Considerations
1. What does the lot size ranking actually mean?
The property’s lot is in the 99th percentile for Winnipeg, meaning it’s larger than 99% of all residential lots in the city. This isn’t just a big yard; it’s a truly outsized, rare parcel that provides a level of privacy and space very few urban properties can match.
2. The home was built in 1971. What should I be mindful of?
While the systems and structure have stood the test of time, a home of this age will likely have original or older components. A thorough inspection is essential to understand the condition of the roof, windows, plumbing, electrical, and the furnace. The 4-level split layout is classic for its era but involves multiple short flights of stairs.
3. Why is the current assessed value lower than the 2022 sale price?
Municipal assessments for tax purposes often lag behind current market values and are calculated using mass appraisal techniques. The 2022 sale price of $680,000 is a concrete market transaction and is generally a more reliable indicator of the home’s recent market value than the $603,000 assessment.
4. There’s no garage. Is that a major drawback?
For some buyers, yes. It means relying on driveway parking and having no dedicated workshop or storage space attached to the house. However, the massive lot offers ample room to build a garage or large shed, subject to permits, which could be seen as a future project that adds significant value.
5. The neighbourhood rankings seem average. What’s the context?
The home ranks in the middle of its immediate street and community for metrics like living area and recent sale price. This suggests it’s a typical, well-fitting home for Wilkes South. The standout feature is the land itself. You’re buying a very standard house for the area, but placed on a lot that is extraordinarily large for the entire city.