Property Overview: 1907 Plessis Road, Winnipeg
Key Characteristics & Appeal
This home at 1907 Plessis Road in the Meadows neighbourhood presents a distinct profile centered on land value and efficient living. Built in 1987, it is notably newer than many homes on its street and across Winnipeg, suggesting potentially fewer major age-related concerns. Its primary appeal lies in its generous 8,662 sqft lot, which ranks well above average for both the Meadows area and the city overall, offering significant outdoor space rarely found with smaller homes.
The dwelling itself is compact at 691 sqft of living area, placing it well below average in size compared to neighbours and the wider market. This creates a clear dynamic: you are purchasing a substantial piece of land with a modest, efficiently sized house. The assessed value is around average for the city, indicating the lot size is a key contributor to its valuation.
This property would best suit a specific type of buyer: a minimalist, a first-time buyer comfortable with cozy spaces, or an investor looking for a land-value play with a rentable structure. It’s less suited for those requiring multiple bedrooms or ample indoor living space. A thoughtful perspective is recognizing this as an opportunity to build equity in a large lot, with the existing home serving as a functional starting point, with future expansion or redevelopment being a long-term possibility due to the parcel size.
Frequently Asked Questions
1. Is the house too small for practical living?
At 691 sqft, the living space is significantly smaller than typical area homes. It would suit a single person, a couple, or someone who prioritizes low maintenance and utility costs over spacious interiors. Efficient design and multi-use rooms would be essential.
2. Why is the assessed value around the city average when the house is so small?
The assessment likely reflects the value of the large lot more than the structure itself. The above-average land area in a developed city contributes substantially to the overall property value.
3. How does the 2023 sale price compare to the current assessed value?
The home sold for an estimated $350k-$400k in 2023. Its current assessed value is $34,100. It is crucial to understand that in Manitoba, assessed value is for taxation purposes only and is intentionally a fraction of the expected market value. The previous sale price is the relevant indicator of market value.
4. What are the advantages of the 1987 build year?
Being newer than many comparable homes (ranking in the top 20% on its street for recent build year) can mean updated building materials, electrical systems, and insulation standards from that era, potentially leading to lower immediate repair costs compared to much older homes.
5. Is the large lot more of a burden than a benefit?
That depends on your lifestyle. The lot offers excellent space for gardening, recreation, or pets. However, it also requires maintenance like mowing and landscaping. For some, this is a prized feature; for others, it could be an ongoing time and cost commitment.