Property Summary: 521 Carlaw Avenue, Lord Roberts, Winnipeg
Key Characteristics & Appeal
This property presents a distinct value proposition centered on its land. The 768 sqft home, built in 1956, is modest in size, ranking below average for living space both locally and city-wide. However, it sits on a notably large 4,997 sqft lot, which ranks in the top 5% on its street and top 16% in the Lord Roberts neighbourhood. This creates a scenario where the assessed value ($310k) is above average for the immediate area, suggesting the land itself is a significant driver of value.
The appeal lies in this land potential. It suits a buyer with a vision for expansion, addition, or outdoor space in a central neighbourhood, who is comfortable with a smaller existing footprint to start. It’s less suited for those seeking a move-in-ready home with ample interior space. A thoughtful perspective is that this could be a strategic entry into the Lord Roberts area, offering a chance to tailor a property to one's needs over time, with the lot size providing flexibility that is increasingly rare.
Frequently Asked Questions
1. Why is the assessed value above average when the house is smaller than average?
The assessment likely reflects the value of the substantial lot size. In established neighbourhoods, land often constitutes a major portion of a property's value, especially when the house itself is more modest.
2. What does the "Elite" ranking for Land Area mean?
This means the property's lot size (4,997 sqft) is larger than approximately 95% of the lots on Carlaw Avenue, making it a standout feature on its street.
3. Is the house in its original 1956 condition?
The provided data does not specify the home's current condition or any renovations. The year built simply indicates the structure's age, and a viewing or further inquiry would be necessary to determine its state.
4. How does the last sold price (2021, $250k-$300k) relate to the current assessed value?
The assessed value for taxation ($310k) is a municipal estimate of value and can differ from market value. The increase from the 2021 sale price may reflect market changes and the underlying land value, but does not guarantee a current selling price.
5. What are the possibilities for a lot of this size?
While subject to local zoning bylaws, a lot of this scale in an inner-city neighbourhood could potentially allow for a significant home expansion, a large garden or outdoor living space, or the future addition of a garage or other structure.