Property Overview
This is a modest, one-storey home built in 1946, situated on a surprisingly large lot in Winnipeg's Kildare-Redonda neighbourhood. Its primary appeal lies not in the house itself, which is notably small at 480 sqft and has an unrenovated basement, but in the significant land it occupies. With a lot size of over 7,300 sqft, the property ranks in the top tier for land area both locally and city-wide. The most recent sale was in March 2025 for approximately $18.5k–$21.5k, consistent with its low assessed value.
Key Characteristics & Ideal Buyer
The defining characteristic here is the stark contrast between the very small, aged dwelling and the expansive, above-average lot. The home itself is among the smallest and oldest in its immediate area, reflected in its minimal assessed value. Its appeal is almost entirely rooted in the land, offering a rare opportunity for a large yard, gardening, or future redevelopment in a city where sizable lots are increasingly uncommon. The detached garage adds practical utility.
This property would suit a specific type of buyer: an investor or handy individual looking for a land-value play, someone seeking an extremely affordable entry into homeownership with outdoor space as the priority, or a buyer with long-term plans to replace the existing structure. It is not suited for those seeking move-in-ready comfort or standard-sized family living spaces.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based heavily on the existing building's size, age, and condition. With a very small, 80-year-old home and an unrenovated basement, the improvement value is minimal, keeping the total assessment low despite the sizable lot.
2. What can the large land area be used for?
Beyond providing a very large private yard, the lot size may offer future potential. Buyers should investigate Winnipeg's zoning bylaws to understand if the property could accommodate additions, a garden suite, or eventual redevelopment, as the existing home may be approaching the end of its functional lifespan.
3. Is this a "teardown" property?
While the existing home is very small and dated, whether it's a candidate for demolition depends on the buyer's plans, budget, and the neighbourhood's development rules. Its primary value is in the land, making it a likely candidate for significant renovation or replacement over time.
4. How does the recent sale price compare to the assessment?
The March 2025 sale price range is consistent with and slightly below the assessed value, which is typical for a property of this type. It confirms the market valuation is driven by land value rather than the structure.
5. What are the immediate costs or considerations?
Prospective buyers should budget for maintenance and updates expected of an older home. A thorough inspection is crucial to understand the condition of the foundation, roof, and mechanical systems. Property taxes will be low due to the low assessment, but utility costs per square foot of living space may be higher than average due to the home's age and size.