Property Overview: 1088 Stardust Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Stardust Avenue in the Leila-Mcphillips Triangle neighborhood presents a distinct profile. Its primary appeal lies in the land itself—a large, 9,600 sqft lot that ranks in the top 10% for size on its street and within the broader area. This is a standout feature for the location, offering significant outdoor space and potential. The house itself is more modest, with a living area of 1,047 sqft that is below the local average, and it was built in 1962, indicating that its value is heavily weighted toward the property rather than the structure. The assessed value is notably low compared to nearby homes, which can suggest a different property tax outlook.
This property would suit a specific type of buyer. It’s ideal for someone with a vision for the land, such as future expansion, gardening, or simply valuing ample private outdoor space in the city. It could also appeal to value-conscious buyers or investors looking for a property where the land asset is disproportionate to the current home’s scale, viewing the existing house as a functional starting point. It’s less suited for those seeking a move-in-ready, larger modern home without renovation plans.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby properties?
The assessed value reflects the municipal valuation for tax purposes, which considers the age and size of the home (both below local averages) as well as the land. The lower value is primarily driven by the older, more modest house on the lot, not the land size itself.
2. What does the large lot size practically mean for a buyer?
Beyond extra yard space, a lot of this size (over a fifth of an acre) provides flexibility. It could accommodate additions like a sizable garage, workshop, or garden. It’s a feature that is increasingly rare and cannot be added later, offering long-term utility and potential.
3. The home sold recently in 2024. What does the price range indicate?
The sold price range of CA$350k–400k, which ranks around the city-wide average, shows that the market price significantly exceeded the municipal assessed value. This premium is likely attributed to the desirable lot size, confirming that buyers are willing to pay for the land potential.
4. As a 1962-built home, what should I anticipate?
Buyers should budget for updates consistent with a home of this age. This includes checking the condition of major systems like plumbing, electrical, roofing, and insulation. While it offers character, its maintenance and renovation needs will be different from a newer build.
5. How does this property compare within its immediate area?
The data shows a contrast: while the house is smaller and older than most on its street and in the Triangle area, the land parcel is substantially larger than its neighbors. This creates a unique trade-off—you’re acquiring a superior land position with a home that may require more investment relative to others on the block.