Property Overview
6 Haddow Street is a compact, one-storey home on a generously sized lot in Winnipeg's Brooklands neighbourhood. Built in 1956, its primary appeal lies in the land itself—a 5,668 sqft property that is significantly larger than most in the immediate area and ranks within the top 3% of lot sizes in Brooklands. This presents a clear value proposition centred on potential. The home is modest, with 768 sqft of living space, and features a detached garage. It recently sold for $18,300, which is well below the city-wide average for homes, aligning with its lower assessed value.
This property would suit a specific type of buyer: an investor, builder, or hands-on homeowner looking for a land-play or a foundational project. Its value is not in its current condition or size but in the opportunity the lot provides for expansion, redevelopment, or as a long-term hold in a neighbourhood where larger lots are becoming scarce. It's a pragmatic choice for those with a vision, rather than those seeking a move-in-ready home.
Key Questions & Considerations
1. What does the "assessed value" mean in this context?
The assessed value of $17,100 is for municipal tax purposes and is typically lower than market value. The recent sale price of $18,300 is a more direct indicator of its current market worth, confirming it as an entry-level property.
2. Is the house livable, or is it a tear-down?
The listing does not specify condition, but the very low sale price and focus on land metrics suggest the existing structure adds minimal value. A thorough inspection is essential to determine if the home is habitable or if plans should account for significant renovation or replacement.
3. What can be built on such a large lot?
The lot size is the key asset. It likely offers flexibility for a substantial addition, building a new, larger home, or even subdivision, subject to City of Winnipeg zoning bylaws and development regulations. This is where the property's main potential lies.
4. How does the neighbourhood factor into the value?
Brooklands is an established, no-frills neighbourhood. The value here is in the lot size within this specific area. Buyers should consider if the street and community align with their long-term plans, as the premium is for the land, not the location's prestige.
5. Why is the living area so much smaller than the city average?
At 768 sqft, the home is significantly smaller than the Winnipeg average (~1,342 sqft). This highlights its nature as a post-war, working-class bungalow and underscores that you are primarily purchasing land. Any future plans would likely need to address this lack of interior space to meet modern standards.