Property Overview & Key Characteristics
This is a distinctive, single-family home on an exceptionally large, 2.5-acre lot in Winnipeg's Wilkes South neighborhood. Built in 1999, the 1,683 sqft bungalow features a basic, unfinished basement and an attached garage. Its primary appeal is not the house itself, but the immense, blank-canvas potential of the land. The property ranks in the top tier city-wide for lot size, placing it in a rare category for an urban setting. It suits buyers seeking space, privacy, and future potential over immediate turn-key luxury. This could be ideal for someone with long-term renovation or expansion plans, a multi-generational family looking to add a secondary suite, or a buyer who values extensive outdoor space for gardens, recreation, or simply solitude within the city. The house offers a functional starting point, but the true value lies in the unique opportunity the land presents.
Frequently Asked Questions
1. What does the lot size actually allow for?
At just over 109,000 sqft, the lot is zoned for residential use and offers significant space for additions, extensive landscaping, outbuildings (subject to bylaws), or future subdivision potential, which should be verified with the city planning department.
2. How does the "unfinished basement" impact value and livability?
It represents both a cost and an opportunity. While it requires investment to develop, it allows a new owner to customize the additional space to their exact needs—whether as a suite, recreational area, or workshop—without needing to undo previous renovations.
3. The rankings show the house is newer than many in Winnipeg, but not in its immediate area. What does this mean?
It indicates the neighborhood has a mix of older and newer homes. While the 1999 build is relatively modern overall, it may be surrounded by more recently built properties, suggesting the area has seen ongoing development.
4. Who is the typical buyer for a property like this?
Likely a practical visionary: someone who sees the existing house as adequate for now but is motivated by the long-term asset of the land. This contrasts with buyers seeking a fully updated home in a neighborhood of uniformly sized lots.
5. The assessment value is high relative to the street. Is this a concern?
The city's assessed value reflects the extraordinary lot size. It suggests the property is valued more as a land play than for its current structures. Buyers should focus on market comparisons for similar large-lot properties rather than just neighboring homes on standard plots.