Property Overview: 1148 Lansdowne Avenue, Winnipeg
Key Characteristics & Appeal
This 948 sqft bungalow, built in 1958, sits on a generous 4,798 sqft lot in the Mynarski neighbourhood. Its standout characteristic is its strong assessed value of $335,000, which ranks in the top 9% of homes on Lansdowne Avenue and the top 14% within Mynarski, suggesting it is a well-regarded property in its immediate locale. While the living space is modest compared to city-wide averages, the lot size is above average for the street and neighbourhood, offering valuable outdoor space and potential.
The appeal lies in this combination of a premium valuation within its community and a substantial lot, presenting an opportunity for buyers who prioritize location and land over square footage. It would suit a first-time buyer looking for a solid entry point in a mature neighbourhood, an investor attracted by its strong local value retention, or a downsizer seeking a manageable home with a good-sized yard. A thoughtful perspective is that this property represents a "land-value play" in an established area; its worth is anchored more in its location and parcel size than in its current interior space, which could be expanded or renovated over time.
Frequently Asked Questions
1. Why is the assessed value so high compared to similar homes on the street?
The assessment ranks in the top 9% for Lansdowne Avenue, indicating that municipal assessors attribute a higher value to this specific property. This can be due to a combination of factors including the larger lot size, the condition of the home, improvements, and its precise location.
2. How does the smaller living area affect value and livability?
While below average in size, this often translates to a lower initial price point and lower utility costs. The efficient layout can be cozy and manageable, with the value proposition shifting to the substantial lot, which offers space for gardens, recreation, or future expansion.
3. What is the significance of the recent sale history?
The property sold twice in 2023, with the later sale in the $350k-$400k range placing it in the top 10% of street sales. This indicates active market interest and a price trajectory that aligns with or exceeds its high assessed value.
4. What should I consider about a home built in 1958?
While newer than many homes on the street, a 68-year-old home will likely have older core components, like plumbing, electrical, and the roof. A thorough inspection is essential to understand the condition and any needed updates, which can be an opportunity to customize.
5. How can I get the exact historical sold prices?
The displayed prices are estimated ranges from public data. For fully verified and exact sale figures, you must request a manual lookup via email through the site, as this information is not sourced from the MLS.