This one-storey home, built in 1950, presents a unique proposition in Winnipeg’s Wilkes South neighbourhood. Its most defining feature is the exceptionally large lot of approximately 45,872 square feet, placing it in the top 1% of all properties in Winnipeg for land size. The 1,410 sqft bungalow sits on this expansive parcel, featuring a finished basement and a detached garage. While the home itself is of a modest, mid-century build, its appeal is fundamentally rooted in the land. The property suits two distinct types of buyers: those with a long-term vision for redevelopment or substantial expansion who value the rare blank canvas, and those seeking unparalleled outdoor space for gardens, recreation, or privacy within the city. Its value lies not in modern finishes, but in future potential and immediate spatial freedom that is increasingly scarce.
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What does the ranking data actually mean?
The rankings highlight a property of contrasts. While the home’s age and assessed value rank in the lower halves locally, its living space is above average for the street. Crucially, the land size ranking is exceptional city-wide. This signals a property where the land asset significantly outweighs the current structure in terms of scarcity and value.
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Is the house in need of major updates?
Given its 1950 construction, buyers should anticipate elements typical of its era. The core systems, roof, and windows likely require evaluation or modernization. The value proposition here is investing in the property's potential, which may include significant updates or a future rebuild.
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How can such a large lot be utilized?
Beyond a spacious yard, possibilities could include future subdivision (subject to zoning and city approval), adding substantial additions, or creating custom outdoor amenities like a workshop, extensive gardening, or recreational space. The lot offers rare flexibility for a buyer’s imagination or investment strategy.
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What is the neighbourhood like?
Wilkes South is a mature, established community. The property’s rankings within the neighbourhood suggest it is a larger-than-average lot in an area with a mix of home ages and values, offering a quiet, grounded setting without the premium of newer suburbs.
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Why is the assessed value relatively moderate given the lot size?
Municipal assessments typically reflect current use and structures more than development potential. The assessment likely captures the value of the existing older home on a large lot, not the premium for rare, redevelopable land. The market value may reflect this potential more strongly.