Property Overview
840 Peake Avenue is a well-established home in Winnipeg's Mission Gardens neighbourhood, built in 1972. Its standout feature is its generous proportions, offering more space than most comparable homes in the immediate area. The property presents a compelling case for buyers seeking a balance of interior space and outdoor potential.
Key Characteristics, Appeal & Ideal Buyer
The primary appeal of this home lies in its above-average scale. With 1,548 square feet of living area, it ranks in the top 4% on its own street and the top 13% within Mission Gardens, offering significantly more interior space than many neighbouring properties. This is complemented by a large 5,998 sqft lot, which is also well above the local average, providing ample room for gardening, recreation, or future expansion.
Its assessed value is positioned around the neighbourhood average, suggesting the current pricing may reflect the home’s age rather than its physical footprint. This creates an interesting value proposition: you are acquiring a property with space metrics that typically command higher prices, but within a mature, settled community. The home last sold between $300k-$350k in 2020.
This property would best suit a practical buyer who prioritizes space and land size over a modern, turn-key home. It’s an ideal candidate for a growing family needing room, a DIY enthusiast looking to customize an older home, or an investor who sees value in the substantial lot size for future potential. It appeals to those who understand that a home from the 1970s may require updates but offers a rare amount of space for the area.
Frequently Asked Questions
1. How does the home’s age affect its value and condition?
Built in 1972, the home is older than most in Mission Gardens. While this can mean maintenance or update considerations, it also often correlates with larger lot sizes and established neighbourhoods, which are part of this property's appeal.
2. The assessed value seems low compared to the sold price history. Why?
The assessed value for taxation purposes ($36,700) is not a market valuation. It is often lower and follows a different formula. The 2020 sale price range of $300k-$350k is a more relevant indicator of its market value.
3. What does the "top 4%" ranking for living area actually mean?
This statistic means that, among the 24 comparable homes on Peake Avenue, 840 Peake Avenue has the largest living area. It has 1,548 sqft, while the average on the street is only 949 sqft, making its interior space a dominant feature.
4. Is the large lot size a common feature in this area?
No, it's a distinguishing advantage. The lot is nearly 6,000 sqft, placing it in the top 8% on its street and the top 25% in Mission Gardens. This is a significant asset for privacy, outdoor living, or future projects.
5. How can I find out the exact historical sale price?
The exact sold prices are not publicly displayed online. You can request this information directly via the "Get exact sold price history" feature on the listing page by providing your email address. The service is manual but provided without marketing spam.