Property Overview
This two-storey home on a 3,482 sqft lot in William Whyte presents a classic, no-frills opportunity. Built in 1912, its key characteristic is its solid, unrenovated state, offering 1,232 sqft of living space and a basement awaiting finishing. The appeal lies in its value proposition: it sits on a lot larger than most in Winnipeg and possesses an assessed value that ranks highly city-wide, suggesting significant underlying land value. It last sold in 2022, indicating recent market interest.
This property would suit a practical buyer looking for a footprint to build upon, such as a hands-on renovator, an investor viewing it as a long-term hold in a transitioning area, or someone primarily motivated by securing a sizable urban lot. Its condition means it’s likely not for those seeking immediate move-in readiness, but rather for those who see potential in the structure and, more importantly, the land itself.
Frequently Asked Questions
1. What does "unrenovated" typically mean for a home of this age?
It generally indicates the home retains its original layout and materials. Expect older plumbing, electrical, windows, and plaster, requiring modernization for comfort and efficiency. The basement is present but not developed into living space.
2. How significant is the lot size?
At 3,482 sqft, the lot is larger than 81% of properties in Winnipeg. This is a standout feature, offering more outdoor space and potential for additions, gardens, or parking than is typical for the price point in the city.
3. Why is the assessed value so much higher than the 2022 sale price?
Municipal assessments for tax purposes are based on mass appraisal models and may not reflect immediate market sale prices. The high city-wide rank (top 9%) suggests the city sees substantial value in the property, often tied to the land, which can be a positive indicator for long-term value.
4. What can nearby "similar assessed value" properties tell me?
The listed similar-valued properties are in different neighbourhoods (like Varsity View). This comparison highlights that for the same tax assessment, you are acquiring a different type of asset—here, a larger lot and house in a community with different dynamics, versus possibly a condo or smaller lot elsewhere.
5. Is the lack of a garage a major drawback?
For many buyers in urban neighbourhoods, street parking is common. The large lot, however, could potentially accommodate the future addition of a garage or parking pad, subject to local zoning regulations, which is an advantage not all properties on standard lots have.