1961 Springfield Road

Property Overview

This 3-level split home at 1961 Springfield Road in Winnipeg's Kil-Cona Park neighborhood presents a distinct profile defined by its exceptional lot size and modest improvements. Built in 1945, the 1,612 sqft house sits on a remarkably large, 133,505 sqft lot (just over 3 acres), which is its most outstanding feature. The home has a detached garage and an unfinished basement. Recent sales data indicates it sold in late 2022 for approximately $47.5k to $50.5k, closely aligning with its current assessed value of $48.10k.

Key Characteristics & Appeal

The primary appeal of this property lies in its extraordinary land size, which is in the top 1% both for its street and city-wide. This isn't just a large yard; it's a parcel with immense potential for subdivision, expansion, or simply as a rare, private oasis within the city. The house itself is spacious compared to others on Springfield Road, but its age and the unrenovated basement indicate it's a functional living space that may require updates. Its assessed value is high for the immediate street but average for the broader Kil-Cona Park area, suggesting the land value heavily influences the price.

This property would best suit a specific type of buyer: those with a vision for the land itself. This includes developers or investors eyeing future subdivision potential, buyers seeking ample space for hobbies, gardening, or keeping animals, or homeowners planning a significant future build who need a serviceable existing structure in the interim. It is less suited for buyers seeking a modern, turn-key home without renovation plans.

Frequently Asked Questions

1. Why is the assessed value so much lower than typical city-wide home prices?
The assessed value reflects the current state and market value of the property, which is heavily influenced by the older home and its specific location. The value captured here is primarily in the land, not in a recently built or extensively renovated structure.

2. What does the "unfinished basement" imply for living space?
The basement is included in the total living area square footage but is not renovated into a finished living space (like a rec room or bedroom). It offers functional storage and utility space and presents an opportunity for future expansion, but any upgrades would be at the owner's expense.

3. How significant is the lot size, really?
At over 3 acres, it is exceptionally rare for a residential property within Winnipeg city limits. For perspective, the average lot on Springfield Road is about 5,913 sqft; this lot is more than 22 times larger than that average.

4. The home sold recently in 2022. What does that rapid resale potential indicate?
While reasons for sale are specific to the owner, the recent transaction in a similar price range suggests the property holds a stable, niche market value based on its unique characteristics, particularly the land.

5. What are the main considerations given the home's age?
Built in 1945, prospective buyers should budget for and investigate potential updates to major systems (like plumbing, electrical, or roofing) common to homes of this era, alongside any cosmetic renovations desired. The age is a key factor in its below-average ranking for year built in all comparison categories.