86 Carriere Avenue

Property Overview & Appeal

This property at 86 Carriere Avenue in Winnipeg's Glenwood neighbourhood presents a notable opportunity centred on its land value and future potential. Its key characteristic is a very large 6,117 sqft lot, which ranks in the top third for size on its street. The home itself is older, with a modest assessed value of $18,300, significantly lower than many nearby properties. This combination suggests the primary appeal lies in the land itself—whether for a substantial renovation, a future rebuild, or simply owning a larger-than-average parcel in a mature area. It last sold in 2017 for $24,500.

The property would suit a specific type of buyer: value-conscious purchasers, builders, or investors looking for a "lot play" rather than a move-in-ready home. It’s a canvas for someone with a vision, willing to invest sweat equity or capital into a project. A less obvious perspective is its appeal to those seeking a lower ongoing property tax burden due to the low assessment, while holding an asset with solid intrinsic land value in a well-established community.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The low assessment primarily reflects the age, size, and condition of the existing structure compared to newer or more extensively renovated homes on the street. The value is heavily weighted toward the land.

2. What can I build on a lot of this size?
At over 6,000 sqft, the lot offers flexibility. Buyers should verify all zoning bylaws with the City of Winnipeg, but lots of this scale can often accommodate additions, larger new builds, or more generous landscaping than standard 50-foot lots.

3. Is this a teardown property?
While the data suggests the existing structure is modest, that determination depends on a buyer's inspection, plans, and budget. The statistics indicate most value is in the land, making a rebuild a logical consideration for many.

4. How does the 2017 sale price relate to today’s value?
The 2017 sale price of $24,500 is a historical data point. Current value is driven by today's market conditions for land and properties in Glenwood, which have likely appreciated since then, as seen in the higher assessed values of neighbouring homes.

5. Are the property taxes based on the assessed value?
Yes, municipal property taxes are calculated using the assessed value. A lower assessment typically results in a lower tax bill, which can be an advantage during a holding or renovation period.