Property Overview: 728 Municipal Road, Winnipeg
This property presents a unique opportunity centered on space and established value. Its primary appeal lies not in being the newest or largest home, but in offering a generous, well-situated lot with solid fundamentals. The one-storey bungalow, built in 1970, sits on a sizable 13,031 sqft lot, a feature that ranks in the top tier for the area. With a finished basement and a combination attached/detached garage, it provides practical living space. The home’s assessed value places it highly relative to its neighbours, suggesting a well-regarded property within the community. Recent sale history indicates potential for value growth.
Who It Suits:
This home is ideal for buyers seeking a grounded, long-term property with room to breathe. It suits first-time buyers looking for a manageable single-level layout with expansion potential, or downsizers who value a large yard without the maintenance of a multi-storey home. It particularly appeals to those who prioritize land size and established neighbourhood character over a modern, turn-key interior. The strong rankings for lot size and overall value indicate a property with enduring, tangible assets.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The 13,031 sqft lot is a standout feature, placing in the top 11% within the community and top 3% across Winnipeg. This offers exceptional outdoor space compared to most city lots.
2. The home was built in 1970. What should I consider?
While the structure is over 50 years old, it has a finished basement and recent sale activity. Buyers should budget for potential updates to mechanical systems, windows, or insulation to improve energy efficiency, common for homes of this era.
3. The assessed value is significantly higher than the 2023 sale price. Why?
The current assessment is $46.2K higher than the late-2023 sale price of $390K. This could reflect market appreciation, municipal assessment methodologies, or specific improvements. It’s a positive indicator of the property’s perceived value growth.
4. What do the "rankings" actually mean?
They show how this property compares to others in the immediate area, neighbourhood, and city for specific metrics. For example, ranking in the "top 3%" for lot size in Winnipeg objectively highlights its rarity and a key competitive advantage.
5. Is the finished basement included in the listed living area?
No. The listed living area is 1,310 sqft for the main floor. The finished basement provides additional, valuable living space that is not typically counted in the official square footage, effectively increasing the usable area of the home.