Property Overview: 50 Paisley Place, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Jameswood presents a specific, value-oriented opportunity. Its key characteristic is a significant disconnect: it sits on a notably large lot for its street (over 5,300 sq ft, ranking in the top 8% locally) while having one of the lowest assessed values in the immediate area. Built in 1957, it is actually the oldest home on Paisley Place, which may appeal to those interested in classic character or a straightforward renovation canvas. The living space (988 sq ft) is modest but in line with neighborhood averages.
The primary appeal lies in its potential. The combination of a very low property assessment and a generous lot size in a stable area suggests a chance for equity growth through updates or expansion. It suits practical, value-focused buyers such as first-time homeowners comfortable with a project, investors looking for a hold-and-renovate property, or downsizers seeking a single-level layout with ample outdoor space without a premium price tag. It’s a home where the value is arguably in the land and the opportunity, rather than in its current finished state.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's current state as of the last evaluation. Given its age and likely original condition compared to updated neighbors, the assessment reflects the existing structure, not the potential of the large lot.
2. What does "Elite" ranking for Year Built mean?
This can be counterintuitive. Here, "Elite" means it is among the oldest homes on the street, as rankings favor newer construction. It indicates the home has original character but may require more attention to major aging components like roof, plumbing, or wiring.
3. Is the lot size a genuine advantage?
Yes. The lot is larger than most on the street, offering more private outdoor space and potential for additions, a garden, or a future garage. This is a key asset that isn't reflected in the current home's price.
4. How reliable are the sold price ranges shown?
The ranges are based on public data. For the exact historical sale price, you must request it via email from the listing service. This is a common practice to verify serious interest and provide precise data.
5. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without any renovation needs. Given its age and value positioning, it likely requires updates and a willingness to invest time or capital into improvements.