Property Overview: 115 Minnetonka Street, Winnipeg
Key Characteristics & Appeal
This property presents a distinct profile defined by its generous land size and modest improvements. The standout feature is the 9,118 sqft lot, which is significantly larger than most homes on its street, in the Minnetonka area, and across Winnipeg. This offers rare potential for expansion, gardening, or outdoor space in an urban setting. The home itself is a 720 sqft bungalow built in 1947, making it notably smaller and older than surrounding properties. Its assessed value is relatively low compared to immediate neighbors, but aligns more closely with the city-wide average for homes of its type.
The primary appeal lies in its land value and the opportunity it represents. It is best suited for a specific buyer: someone looking for a footprint to build or substantially renovate, an investor interested in the long-term value of a large lot, or a minimalist buyer seeking an affordable entry into homeownership with low property taxes. It is not suited for those seeking a move-in-ready, spacious family home without a major renovation plan.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average listed?
The city-wide average of $390k includes all home types and sizes. This home’s assessed value of $32.60k is compared to a specific group of "comparable homes" city-wide, where its value is around average. The key takeaway is that the assessment reflects the current, modest state of the 720 sqft structure.
2. What can I do with such a large lot?
Beyond a spacious yard, a lot of this size may allow for future additions, a garage or workshop, or even subdivision, subject to City of Winnipeg zoning and bylaws. It’s the property’s main asset.
3. How does the age of the home (1947) affect things?
While it adds character, it likely means older mechanical systems (plumbing, electrical, roof) that may need updating or have already been replaced. A thorough inspection is essential to understand the condition and any potential heritage considerations.
4. The page mentions no sales history is shown. How can I find out what it’s worth?
You can request the exact sold price history via the email link provided. This service is manual, so they aim to reply by the end of the same day with accurate historical data not shown publicly.
5. Is this a good investment?
Its investment potential is highly dependent on your strategy. As a rental in its current state, it may offer limited income. Its value is more likely tied to the land’s future development potential or as a hold for long-term appreciation, rather than short-term cash flow.