Property Overview: 1116 Lansdowne Avenue, Winnipeg
Key Characteristics & Appeal
This 1,260 sqft home, built in 1958 on a 4,994 sqft lot in Mynarski, presents a compelling value proposition rooted in its strong local standing. Its primary appeal lies in its significant assessed value of $368k, which ranks in the top 4% of both its immediate street and the broader Mynarski area. This suggests the property is a high-calibre asset within its local context, potentially due to factors like updates, condition, or lot desirability that are recognized in its assessment.
The home offers above-average living space for its neighbourhood, providing more room than most comparable local homes. While its size and lot are more average when viewed across the entire city, its strength is decidedly hyper-local. The data indicates a history of solid value retention, with past sales performing well against area benchmarks.
This property would suit a practical buyer looking for a well-positioned asset in a mature neighbourhood. It’s ideal for someone who values space and established community character over a brand-new build. It could appeal to owner-occupants seeking a home with proven equity strength in the area, or to an investor focused on a property that stands out in its immediate market.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessment ranks in the top 4% for both the street and Mynarski, indicating that official valuation recognizes this specific property as superior to most peers. This is often due to a combination of its above-average living area, lot size, property condition, and any updates or improvements not reflected in the basic stats.
2. How does the living area compare to nearby homes?
At 1,260 sqft, the home is larger than the average comparable home on Lansdowne Avenue (~1,124 sqft) and significantly larger than the Mynarski area average (~1,047 sqft). This offers a tangible space advantage within the local market.
3. What do the past sale prices indicate?
The home sold in 2020 and 2017, with both sale prices ranking in the top third or better for the street and area at those times. This consistent performance suggests a history of holding its value well relative to its surroundings.
4. Is the lot size a pro or a con?
The lot is just under 5,000 sqft, which is slightly larger than the street average. It provides a decent outdoor space for a mature neighbourhood but is smaller than the city-wide average lot. It’s a relative strength locally, not a standout city-wide.
5. The home was built in 1958. What should I consider?
While newer than many homes on its street (ranking in the top 8%), it is still a 68-year-old property. Buyers should budget for maintenance consistent with its age and consider the potential for older mechanical systems, though the newer build date relative to neighbours can be a slight advantage.