Property Overview: 2094 Portage Avenue, Winnipeg
Key Characteristics & Appeal
This is a distinctive, one-storey home in Winnipeg's Birchwood area, sitting on an exceptionally large, half-acre lot (18,240 sqft) that places it in the top 2% of properties city-wide for land size. Built in 1987, the 1,859 sqft home features a renovated basement and an attached garage. Its appeal is anchored in rarity and space. While the home itself is comfortable and well-sized, the true value lies in the land—offering a level of privacy and expansion potential seldom found within the city. The property’s assessed value is notably low compared to recent sale prices of nearby homes, suggesting significant perceived upside.
It would perfectly suit a buyer looking for a long-term family home with room to grow, add amenities like a workshop or extensive garden, or an investor/developer who recognizes the inherent value of the large parcel. It’s a property for someone who sees beyond the current structure to the possibilities of the land itself.
Frequently Asked Questions
1. Why is the assessed value so much lower than what similar properties have sold for?
Municipal assessments for tax purposes often lag behind market values, especially for unique properties. The low assessment here likely reflects an older valuation that doesn’t fully capture the current premium for such a large lot, potentially resulting in relatively lower property taxes for the owner.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should inquire about the finish quality, legal egress, ceiling height, and whether it includes added bedrooms or a separate entrance to understand its full utility and value.
3. Is the large lot a maintenance burden or an opportunity?
This depends entirely on the buyer's vision. The lot size ranks in the top 7% for the neighbourhood, meaning it offers unparalleled space but also requires more upkeep. It could be a canvas for gardens, recreation, or future expansion, but buyers should budget for landscaping and maintenance accordingly.
4. How does the age of the home (1987) factor in?
Built 39 years ago, this home is from an era with modern building standards but is now at an age where major components (like the roof, windows, or HVAC) may be nearing or due for replacement. A thorough inspection is crucial to distinguish between cosmetic updates and the condition of these core systems.
5. The home ranks very highly for size on its street. What does that mean for the neighbourhood feel?
Ranking in the top 2% for living area on Portage Avenue indicates this is one of the larger homes on the block. This often translates to a more private setting with greater distance from neighbours, but it’s wise to visit at different times to gauge traffic and noise levels specific to this prominent avenue location.