Property Summary
Key Characteristics & Appeal
This is a 1,080 sqft one-and-a-half storey home built in 1910, situated on a notably large 5,733 sqft lot in Winnipeg's Dufferin neighbourhood. Its key appeal lies in the balance between its very modest official assessed value ($120k) and its generous land parcel, which is well above average for both the street and the area. The home presents as a classic, unrenovated character property with a basement, but without a garage or pool.
It would suit a specific type of buyer: those looking for a footprint with potential, whether as a starter home with room to grow (gardens, additions, or future outbuildings), an investor eyeing the land value, or a hands-on individual ready to take on a renovation project over time. The low assessment suggests significantly lower property taxes compared to newer or fully renovated homes, which is a practical, long-term financial advantage. It’s a property where the true value may be less in its current condition and more in its underlying assets—the lot size and location—offering a canvas for future plans rather than immediate move-in finish.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city homes?
The assessed value is based on the property's current state and market factors as determined by municipal assessment. For this 1910 home, the low valuation reflects its age, condition, and lack of renovation, not necessarily its market sale price or potential value to a buyer.
2. What does the lot size mean for me practically?
At over 5,700 sqft, the lot is significantly larger than many in the immediate area. This provides ample space for gardening, recreational space, potential expansions like a garage or workshop, or simply more privacy than smaller lots offer.
3. The home is noted as "not renovated." What should I consider?
This confirms the property likely retains its original layout and systems. Buyers should budget for and prioritize updates to essential areas like wiring, plumbing, insulation, and heating, which are common in homes of this vintage. The basement condition should also be thoroughly inspected.
4. How do the rankings (e.g., "Top 6%" for Land Area) help me understand the property?
These rankings compare this home to similar properties on three levels: its street, the broader Dufferin area, and citywide. For example, ranking in the "Top 6%" for Land Area on its street means 94% of comparable homes on McKenzie Street have smaller lots, highlighting a key strength of this property in its immediate context.
5. It last sold in 2016. How does that inform the current price?
The 2016 sale price of $110k provides historical context, but the current asking price will be driven by today's market conditions, recent comparable sales in Dufferin, and the seller's valuation of the property's land and potential.