This 1962-built, one-storey home in Wilkes South sits on an exceptionally rare and private 5-acre lot, a feature that defines its character and places it in the top tier of Winnipeg properties for land size. With nearly 1,400 sqft of living space, an unfinished basement, and an attached garage, the house itself is a functional, no-frills canvas. Its primary and overwhelming appeal lies in the immense potential of its expansive, tranquil grounds, which offer a level of privacy and space virtually unmatched within the city. The property’s high assessment value relative to its 2016 sale price suggests significant appreciation, largely driven by the land.
This home is ideally suited for a specific buyer: one who values land and privacy above a turnkey, modern home. It’s a perfect match for someone with a vision—whether for extensive gardening, hobby farming, or future expansion—and the willingness to update the interior over time. It also appeals to those seeking a peaceful, country-like setting while remaining within Winnipeg’s limits, offering a unique retreat without the long commute.
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What does "unfinished basement" mean for this specific property?
Given the home's age and modest living space above ground, the basement represents a major opportunity for expansion. Buyers should investigate its condition, ceiling height, and potential for development to significantly increase the home's functional square footage.
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Are there any restrictions or unique costs associated with a 5-acre lot in the city?
While offering incredible privacy, a lot of this size may come with considerations not typical for standard residential plots. It's wise to inquire about zoning bylaws, well and septic systems (if not on city services), and the practicalities and costs of maintaining such a large parcel of land.
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The home ranks very low for its age and size within its immediate neighborhood. What does this indicate?
The rankings show that most nearby homes are newer and larger. This suggests the area has been redeveloped over time, making this property one of the original holdings. For a buyer, this context highlights the lot's rarity but also means the existing house may feel modest compared to newer neighbors.
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How does the property's high city-wide ranking for value align with its features?
Ranking in the top 9% of Winnipeg for assessed value, despite the home's age, clearly signals that the assessment is heavily weighted toward the land value. This is a crucial data point for understanding the property's financial worth and tax implications.
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What is the realistic potential for this property?
The potential falls into two clear paths: enjoying the land as a private oasis while making gradual updates to the home, or viewing it as a long-term holding with the ultimate option to redevelop. The value is firmly in the land, making it a strategic purchase for a patient buyer focused on space over immediate modern finishes.