Property Overview: 454 Greenacre Boulevard
Key Characteristics & Appeal
This one-storey home in Winnipeg's Kirkfield neighborhood is defined by its balance of a modest house and a generous lot. Built in 1956, the 728 sqft living space is notably compact, ranking below average for size both locally and city-wide. However, this is offset by a land area of nearly 6,000 sqft, which is above average for its immediate street and provides significant outdoor space. The home features a detached garage and has a consistently below-average assessed value, indicating its position as an entry-point property in the market.
Its primary appeal lies in its affordability and land potential. It suits first-time buyers, downsizers, or investors seeking a lower-cost entry into the Winnipeg market with a "blank canvas" lot. The large yard offers room for gardens, expansion, or future development, presenting value that isn't immediately apparent from the home's size alone. It’s a property for those who prioritize land over finished living space and see potential in a solid, no-frills foundation.
Frequently Asked Questions
1. Is this a "tear-down" or a liveable home?
Based on recent sale history, it is likely a liveable home, but its value is heavily weighted toward the land. The modest size and assessed value suggest it's functional but may require updates or be seen for its redevelopment potential.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and specific market conditions in Kirkfield. It indicates a more affordable property tax burden compared to larger, more renovated homes in the city.
3. What does the large land area mean for me?
The nearly 6,000 sqft lot is a key feature. It provides ample yard space, privacy, and future possibilities like adding a garage, workshop, or even an addition, subject to zoning regulations.
4. How does the recent sale price compare to the assessed value?
The home sold in mid-2024 for between $29.5k and $32.5k, which is moderately higher than its $23.7k assessed value. This is common, as assessed value for taxation doesn't always equal market value, and the sale confirms strong buyer interest at that price point.
5. Who would this property not suit?
It may not suit buyers looking for a move-in-ready, spacious, or modern home without renovation work. Families needing multiple bedrooms or those unwilling to manage a larger yard or potential updates might find it too compact.