Property Overview & Key Characteristics
This one-storey home at 10 Piccadilly Street in Winnipeg's Brooklands neighbourhood presents a unique opportunity centred on its land. The property sits on a large 4,867 sqft lot, which is notably above average for both the immediate street and the broader Brooklands area. The house itself, built in 1979, is newer than many in the vicinity and offers a functional 1,320 sqft of living space.
The primary appeal lies in its value proposition. The recent sale price is significantly below the city-wide average, suggesting an entry point into homeownership or a strategic investment. This is a property where the land is a major asset. It would suit a buyer looking for a solid foundation—literally and figuratively—who is comfortable with a home that may require updates. It's also a practical fit for an investor or a hands-on owner who sees potential in the sizable lot, whether for future expansion, gardening, or simply enjoying more outdoor space than is typical in the area.
A thoughtful perspective: while the assessed value is modest, the home ranks well within its local context, indicating it's a proportionate property for Brooklands. Its recent sale history suggests a market correction, making it a distinct value compared to its peak years ago, which could appeal to a pragmatic buyer focused on fundamentals over trends.
Frequently Asked Questions
1. Why is the current sale price so much lower than the 2016 sale?
Market conditions have shifted since 2016. The current price reflects a more recent and realistic market valuation for the property in its present condition, highlighting it as a value-oriented opportunity.
2. What does "above average" for land area in Brooklands mean for me?
It means you're getting a larger-than-typical yard for the neighbourhood. This offers more privacy, space for recreation or storage, and future flexibility compared to many nearby properties.
3. Is the 1979 build date an advantage?
Yes, relatively. It means major systems like wiring and plumbing are likely more modern than in many older Brooklands homes, potentially reducing immediate concerns about outdated infrastructure.
4. Who is this property not well-suited for?
It may not suit buyers seeking a turn-key, modern home without any projects, or those whose primary goal is rapid, short-term appreciation based on finishes alone. Its value is more utilitarian.
5. How should I interpret the assessed value versus the sale price?
The assessed value is for municipal tax purposes. The sale price is determined by the current market. The fact that the sale price is close to the assessed value can indicate a market-based purchase, not an inflated one, which can be a stable starting point.