271 Albany Street

Property Overview & Appeal

This property at 271 Albany Street in Winnipeg's Deer Lodge neighbourhood presents a unique opportunity defined by its land and location. Its key characteristic is a sizable 4,999 sqft lot, which places it in the top tier for land area on its street. While specific details on the building's living area, year built, and features like basement or garage are not provided, the data indicates a notably low municipal assessed value compared to the area. This combination suggests a property with significant potential, likely appealing to value-driven buyers looking for a blank canvas or redevelopment project. It would suit investors, builders, or hands-on homeowners with the vision and capability to improve or replace the existing structure. The appeal lies in securing a large parcel in an established neighbourhood, where the value is primarily in the land itself, offering a foundation for future equity through renovation or new construction.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
A significantly lower assessment often reflects the current state of the existing structure. It typically indicates that the building may be older, smaller, or in need of substantial updates compared to neighbouring homes, with the property's value being largely tied to the land.

2. What can the large lot size be used for?
A lot of this size (nearly 5,000 sqft) in an established area offers flexibility. Potential uses could include building a larger new home, adding extensive landscaping or outdoor living space, or possibly subdividing, subject to all municipal zoning and bylaw approvals.

3. Are the missing details about living area and year built a concern?
They are a key point for due diligence. The absence of this standard data suggests the information may not be readily available in municipal records, which is uncommon. It is essential to verify all specifics through a physical viewing, professional inspection, and direct inquiry with the listing agent.

4. Who would this property be most suitable for?
This property is best suited for buyers whose plans align with the land value. This includes investors, developers, or homeowners who are comfortable with a major renovation or rebuild project, rather than someone seeking a move-in-ready home.

5. How meaningful are the high percentile rankings for year built and living area?
These specific rankings should be viewed with caution. A top ranking with no data provided is likely a statistical anomaly and not an indicator of a new or large structure. The meaningful ranking is for land area, which is substantiated by the square footage figure.