Property Overview: 992 Boyd Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, no-frills Winnipeg property where the primary value lies in its exceptionally large lot. The home itself is a modest, one-storey house built in 1947 with 796 sqft of living space and an unrenovated basement. It features a detached garage. The standout feature is the 6,678 sqft land parcel, which places it in the top 1% of lot sizes on its street and the top 2% within the Burrows Central neighbourhood. This creates a rare opportunity in an urban setting.
The appeal is straightforward: it’s a land play. The house provides basic shelter, but the property’s significant assessed value relative to nearby homes underscores the premium placed on the land itself. It suits a specific buyer: someone looking for a long-term hold with future potential, a buyer comfortable with a project (whether that’s a major renovation, an addition, or eventual redevelopment), or an investor who recognizes the inherent value in a large, central lot. It’s not a move-in-ready home for someone seeking modern finishes, but a strategic purchase for those who see value in space and possibility.
Section 2: Frequently Asked Questions
1. Why is the assessed value so high compared to the sale price?
The assessed value heavily reflects the premium value of the very large lot, which is a permanent asset. The sale price may more closely align with the current condition and size of the existing house.
2. What can be done with such a large lot?
Beyond gardening and outdoor space, the lot size offers future flexibility that smaller parcels do not. This could include building a significant addition, creating a separate garage or workshop, or, subject to zoning, potential future redevelopment. It provides options as needs or market conditions change.
3. Is the unrenovated basement a major concern?
It represents both a drawback and an opportunity. It will require inspection for moisture and structural integrity, but its unfinished state means there are no hidden costs behind old renovations. A new owner can design and finish it to their specific needs without first undoing someone else’s work.
4. Who typically buys homes like this in this area?
Buyers are often pragmatic and value-driven. They may include small-scale investors, hands-on owners looking to customize a property over time, or multi-generational families seeking ample outdoor space for children or gatherings that is hard to find closer to the city’s core.
5. How does the age of the home (1947) affect things?
While newer than many area homes, a house of this age will have older core components. The positive perspective is that its construction date suggests potentially simpler, more robust materials and design than some later periods, but a thorough inspection of the roof, wiring, plumbing, and foundation is essential.