Property Overview
This property at 837 Dugald Road in Winnipeg's Mission Industrial area presents a distinct profile defined by its significant lot size and strong assessed value, balanced against its older construction. The home itself, built in 1941, offers 1,438 sqft of living space, which is notably above average for its immediate neighbourhood. Its standout feature is the 13,466 sqft lot, which ranks in the elite top 3% citywide for size, offering substantial outdoor space rarely found in urban settings. Conversely, the assessed value of $61,100 ranks in the top 2-3% locally, indicating it is valued significantly higher than neighbouring properties, which may reflect its larger structure, lot, or potential.
The appeal here lies in a clear trade-off: securing a large parcel of land in an established area, with a home that provides ample interior space, but which likely requires consideration for updates or maintenance due to its age. It suits a specific buyer: someone who prioritizes land potential—be it for gardening, expansion, or simply privacy—over a modern, turn-key home. It could attract investors or owners with a vision for renovation, or those who value the character and space of an older property and are prepared for its upkeep.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring properties?
The assessed value is in the elite tier for the street and area, likely reflecting the combination of a significantly larger living area and a much larger lot size compared to nearby homes. The city's assessment considers these substantial physical advantages.
2. What does the "Mission Industrial" area entail?
This is an established neighbourhood in Winnipeg. The "Industrial" designation suggests a mixed-use area, so buyers should research the specific street context, nearby amenities, and typical activity to ensure it aligns with their lifestyle.
3. The home is older (1941). What should I consider?
An 85-year-old home will require diligent inspection for foundational integrity, plumbing, electrical systems (like knob-and-tube wiring), and insulation. Budgeting for ongoing maintenance or potential updates is essential, though the structure may also feature solid craftsmanship.
4. How does the large lot size impact me?
The nearly one-third-acre lot (elite for the city) offers rare space for recreation, gardening, or future projects like a garage or addition. However, it also means higher property taxes relative to lot size and more responsibility for landscaping and upkeep.
5. The last sale was between $450k-$500k in 2021. Why is the assessed value so different?
Assessed value for tax purposes is not the same as market value. It is an administrative valuation based on mass appraisal techniques. The large gap between the recent sale price and the current assessed value highlights that market dynamics and property condition play a much larger role in determining actual selling price.