Property Overview: 1955 Plessis Road, Winnipeg
Key Characteristics & Appeal
This 1,225 sqft bungalow, built in 1987, presents a compelling opportunity centered on its land. The standout feature is the 10,400 sqft lot, which ranks in the elite top 2-5% for size within both the Meadows area and the wider city. This offers exceptional outdoor space for gardening, recreation, or future expansion, a rarity compared to newer subdivisions. The home itself is modest in scale, with living area and assessed value consistently ranking around the average for its immediate street, neighborhood, and city, suggesting a straightforward, no-frills structure.
The appeal lies in this balance: a home with modern-enough infrastructure (its 1987 build date is newer than many on its street) sitting on a substantially larger-than-average parcel of land. It suits a practical buyer who values private outdoor space over a large interior footprint—perfect for families wanting a big yard, hobbyists, or those with long-term renovation plans. Its last sale in the $300k-$350k range (2022) and current assessed value near $38k indicate it is an accessible entry point into the market, likely appealing to first-time buyers or downsizers seeking a manageable home with land equity.
Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
The assessed value ($37,700) is for municipal tax purposes and is typically much lower than market value. The more relevant figure is the 2022 sale price in the $300,000-$350,000 range, which gives a better, though dated, indication of its market worth.
2. What does the "elite" ranking for land area actually mean?
It means this property's lot size (10,400 sqft) is larger than approximately 95-98% of comparable properties in Winnipeg. In the Meadows area specifically, the average lot is about 5,372 sqft, making this property's land nearly double the norm.
3. Is a 1987-built home considered old?
Not in this context. For Plessis Road, a 1987 build is in the top 20%, meaning it's newer than most homes on the street. City-wide, it's also above average (top 25%). While 39 years old, it's a mid-modern build likely requiring standard upkeep rather than the major systemic updates of much older homes.
4. The home's living area is ranked as "around average." Is that a disadvantage?
Not necessarily. It indicates the house itself is a typical size for the area (1,225 sqft vs. a neighborhood average of ~1,286 sqft). The trade-off is that the property's value proposition shifts from interior space to exterior land space.
5. Why is the average city-wide assessed value comparison so high ($390k)?
This broad city-wide average includes many newer, larger, or more expensive homes in different market segments. The more meaningful comparisons are the "Same street" and "Same area" averages (both around $38k-$41k), which confirm this home's assessment is typical for its specific location and property type.