Property Overview
This one-and-a-half storey home, built in 1949, sits on a notably spacious lot of just under 5,000 sq ft on Manitoba Avenue in the Burrows-Keewatin neighbourhood. Its key appeal lies in its land value and potential. The 900 sq ft living area is compact, and the basement is present but unrenovated, suggesting a home suited more for a hands-on buyer than someone seeking a move-in-ready property. The detached garage adds practical utility.
The property’s standout characteristic is its land size, which ranks in the top 18% for lots along Manitoba Avenue. This presents a clear opportunity for expansion, gardening, or outdoor space in an area where lots are typically smaller. It last sold in late 2020 for $21,600, with a current assessed value of $24,300. This price point and profile would suit first-time investors, buyers looking for a land-value play, or those willing to undertake a renovation or expansion project over time. Its value is very specific to its lot and location rather than its current structure or finishes.
Frequently Asked Questions
1. Is this a move-in ready home?
No. The listing notes an unrenovated basement, and the overall living area is modest at 900 sq ft. Buyers should budget for updates and repairs to suit their needs.
2. What makes this property valuable given its size and age?
The primary value driver is the land. The lot is significantly larger than many on the same street and in the immediate area, offering potential for future expansion, a large garden, or simply more private outdoor space than is typical.
3. How does the assessed value compare to the sale price?
The 2020 sale price was $21,600, and the current assessed value is $24,300. It's important to note that assessed value is for tax purposes and can differ from market value. Consultation with a local realtor is advised for a current market valuation.
4. Who would this property be most suitable for?
It's best suited for a buyer whose priority is land size over a modern or large home. This includes renovators, investors looking for a hold property, or buyers who value ample yard space and are comfortable with a project.
5. How does it rank compared to other homes in Winnipeg?
Context is key. While its living area and year built rank below the city-wide average, its lot size ranks above average for its specific street and neighbourhood. This highlights its local appeal as a property with land potential in its community.