126 Greendell Avenue

Property Overview: 126 Greendell Avenue, Winnipeg

Key Characteristics & Appeal

This home presents a distinct value proposition centered on its generous lot. Built in 1947, the 1,056 sqft house is modest in size, ranking below average for its immediate street and neighborhood. The assessed value is also notably lower than most comparable homes in the Minnetonka area. However, the property’s standout feature is its 10,467 sqft land area, which places it in the top 5% city-wide for lot size. This creates a clear contrast: a smaller, older home on a much larger-than-average parcel of land.

The primary appeal lies in this potential. It suits a buyer looking for a solid foundation in a established neighborhood, with a vision for expansion, renovation, or enjoying expansive outdoor space. It’s a practical choice for a handy homeowner comfortable with updates, or an investor recognizing the value in the land itself. The recent sale in the $350k-$400k range suggests it’s positioned as an accessible entry point, offering the rare opportunity to own a sizable lot without the premium typically attached to such properties.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property’s current state as a smaller, older home. It does not fully capture the potential premium of the large lot, which would be realized by a buyer or through significant improvements.

2. What does the "Elite" ranking for land area actually mean?
It means this property’s lot size is larger than approximately 95% of all residential properties in Winnipeg. This is its most significant competitive advantage.

3. Is the smaller living area a major drawback?
It depends on your needs. For some, it may be limiting. For others, it represents a manageable footprint with lower utility costs and maintenance, with the option to expand later given the ample lot space.

4. How should I interpret the recent sold price range?
The $350k-$400k range indicates what the market recently paid, factoring in both the home’s current condition and the lot’s value. It sits between the very low assessed value and what renovated homes on large lots might command.

5. What are the main considerations for a buyer of this home?
Budget for updates and maintenance common to homes of this age. Have a clear plan for how you intend to utilize the large lot—whether for gardening, recreation, or future construction—to ensure you capitalize on the property’s key asset.