Property Overview
This 1,599 sqft cabover-style home, built in 1999, sits on an exceptionally large 15,685 sqft lot in Winnipeg's Island Lakes neighborhood. Its key feature is the generous, renovated basement, adding significant functional space. While the living area is typical for the street and neighborhood, the property stands out for its assessed value, which ranks well above average at the city, neighborhood, and street level. The most distinctive characteristic is the land size, which is in the top 1% of Island Lakes and top 2% citywide, offering rare potential for privacy, gardening, or expansion.
Its appeal lies in the combination of updated living space and a truly premium lot size that is increasingly hard to find in established suburbs. It suits buyers who prioritize outdoor space over features like an attached garage or pool. It would be ideal for families seeking room to play, hobbyists wanting garden or workshop space, or future-minded owners who value the option to potentially expand the home itself, given the ample land.
Frequently Asked Questions
1. What does "cabover" building type mean?
A cabover design typically features a prominent front-facing garage that is integrated into the main structure, often with living space above it. This is a common and efficient design for homes of this era in suburban Winnipeg.
2. The assessed value is high relative to the street. Why?
The assessed value reflects the municipality's valuation for tax purposes and considers multiple factors. Here, the exceptionally large lot size is a major contributor, as land value is a key component. The renovated basement also adds to the overall value.
3. Is the lack of a garage a significant drawback?
This depends on the buyer's needs. The cabover design includes garage space. The listing notes "Garage: None," which may refer to a detached garage or carport. Prospective buyers should verify the exact parking and storage setup, as the large lot could allow for adding a garage or shed if needed.
4. How does the lot size compare in practical terms?
At nearly 16,000 sqft, the lot is over twice the average size for Island Lakes and the city. This provides substantial backyard space far beyond what is typical for the area, offering more privacy and fewer constraints on outdoor activities or landscaping.
5. The home sold in 2017 for a much lower price. What does that indicate?
The 2017 sale price reflects the market conditions and property state at that time. The significant increase in assessed value since then likely accounts for the basement renovation and overall market appreciation, particularly for homes with premium lot sizes. It underscores the importance of considering current upgrades and market dynamics rather than historical prices alone.