Property Overview & Key Characteristics
This is a compact, one-storey home on a generous lot in Winnipeg's Brooklands neighbourhood. Built in 1958, the house itself is modest at 859 sq ft of living space, but the property's primary asset is its 4,420 sq ft lot, which is notably larger than many in the immediate area. It features a detached garage and has no basement. Recent sale prices and the current assessed value are significantly below the Winnipeg city average, indicating a very accessible price point.
The appeal here is straightforward: it’s a land play. The lot size is well above average for both the street and the neighbourhood, offering potential for expansion, gardening, or outdoor space that is uncommon in this price range. The home suits a practical buyer looking for an entry point into the market, an investor considering a hold or redevelopment opportunity, or someone seeking a low-maintenance footprint with ample yard space. It’s a property where the value is grounded more in the land than the existing structure.
Frequently Asked Questions
1. Is this a teardown or renovation project?
Given the home's age, modest size, and the value being centred on the lot, buyers should be prepared for either significant updates or potential redevelopment, subject to local zoning.
2. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes, which is a financial advantage for the owner, though buyers should verify the exact annual amount.
3. What are the implications of having no basement?
The lack of a basement limits storage and mechanical space. It also means all living areas are on one level, which could be a positive for accessibility but may require creative solutions for utilities and storage.
4. The lot is large for the area. Are there any restrictions on how it can be used?
While the data highlights the lot size as a key feature, any plans for additions, outbuildings, or lot division would require checking with the City of Winnipeg’s zoning bylaws and planning department.
5. The sale price history shows a significant drop between 2016 and 2020. What does this indicate?
This sharp decrease likely reflects a market correction, a change in the property's condition, or a non-arms-length sale. It underscores the importance of a thorough inspection and recent comparable analysis to understand current fair market value.