Property Overview
This is a distinctive, one-storey home on an exceptionally large, 32,288 sqft lot in Winnipeg's Birchwood area. Built in 1950, its primary appeal lies in the rare combination of a renovated interior and vast, private land within the city—a canvas for future expansion, gardening, or simply enjoying significant space. The home itself is spacious at over 2,000 sqft and features a renovated basement. Its assessed value ranks in the top 5% of the city, indicating strong underlying value for the lot and location.
The property would perfectly suit buyers who prioritize land over a new build, such as multi-generational families planning an addition, hobbyists or gardeners seeking room to pursue their interests, or long-term investors who understand the appreciating value of large urban lots. It’s a home for those who see potential in the land itself, not just the existing structure.
Key Questions & Considerations
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on finish quality, ceiling height, legal egress, and moisture control are essential to request. This significantly impacts its use as living space, a rental suite, or simply upgraded storage.
2. How does the 1950s build date affect the home?
While the basement is renovated, a home of this age will likely have older major systems (plumbing, electrical, roof). A thorough inspection is crucial to understand the update timeline and what significant capital expenditures might be on the horizon, balanced against the value of the land.
3. What are the zoning possibilities for this large lot?
The 32,288 sqft lot is the star feature. A key question is its zoning designation, which determines what you can build or add (e.g., a secondary suite, a garage, or even a future new primary residence). Consulting the city's zoning bylaws is a vital early step.
4. Why is the assessed value so much lower than likely market price?
The $65.60k assessment is for municipal tax purposes and is not an indicator of market value, as seen in its 2016 sale at $55.70k. Market value is determined by recent sales of comparable properties, with this home's price driven by its massive lot and living space.
5. What is the feel of the immediate area?
Being on Portage Avenue means higher traffic volume and exposure. It’s important to visit at different times to gauge noise levels and the general pace. However, its rankings show it's among the largest and most valuable properties on the street, suggesting a potentially unique and well-established setting within the thoroughfare.