Property Overview: 1120 Lansdowne Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its lot and location. Built in 1958, it is a notably newer home compared to many on its street and in the Mynarski neighbourhood, potentially meaning fewer concerns with outdated infrastructure. The key figure is the assessed value of $307k, which sits above the street average, suggesting the municipal assessment sees solid value here relative to immediate neighbours.
The primary appeal lies in the balance of a sizable, near-5,000 sqft lot with a modest 912 sqft living footprint. This creates a low-maintenance interior paired with significant outdoor space for gardening, expansion, or simply enjoying a larger yard—a combination that can be rare. Its value is more land-driven than square-footage-driven.
This property would suit a practical buyer—perhaps a first-time homeowner, downsizer, or investor—who prioritizes lot size over interior size and sees potential in the land itself. It’s for someone comfortable with a cosy living space who values the opportunity and privacy a larger lot provides. The above-average assessment for the street indicates it’s perceived as a solid asset in its immediate context.
Frequently Asked Questions
1. Why is the assessed value higher than the street average if the house is smaller?
Municipal assessments consider multiple factors, including lot size, location, and the property’s condition relative to others. The above-average assessment here likely reflects the value of its larger lot and its status as a newer build on a street with many older homes.
2. How does the smaller living area impact livability and resale?
The 912 sqft footprint requires efficient use of space and suits a simpler lifestyle. While below average in size, this can mean lower utility costs and less upkeep. For resale, it attracts a specific buyer segment that values the lot over the house size, as evidenced by its strong assessed value on the street.
3. What does the sale history from 2020 tell us?
The prior sale in the $250k-$300k range provides a historical benchmark. The current $307k assessment suggests an increase in perceived value since then, which could be due to market trends, improvements, or the recognized value of the lot.
4. Are there any obvious concerns with a 1958-built home?
While newer than many neighbours, a 68-year-old home will still require due diligence. Key systems like electrical, plumbing, and the roof may be of a later vintage than on older homes but are still nearing or past a typical lifespan and should be inspected.
5. How does this property fit within the wider Winnipeg market?
City-wide, this home sits around average for assessed value but on a larger-than-average lot for its neighbourhood. This highlights its positioning: it’s not a typical city-wide comparable but represents a land-value opportunity within its local area of Mynarski.