Property Overview
671 Niakwa Road presents a compelling opportunity defined by a significant contrast: a modestly sized home on an exceptionally large lot. Built in 1957, the 1,513 sqft house sits on a 35,048 sqft parcel of land, which is its most distinguished feature. While the living area is fairly average for its Niakwa Place neighbourhood and the home itself is one of the older ones on the street, the property’s assessed value of $592k is consistently above average when compared to both the wider area and the entire city. This suggests the premium is placed squarely on the land. The home last sold in August 2023 for an estimated $650k-$700k, indicating strong recent market interest.
Key Characteristics, Appeal & Ideal Buyer
The primary appeal of this property is its immense lot size, which ranks in the top 1% both within the Niakwa Place area and city-wide. This offers rare potential for expansion, gardening, or simply enjoying substantial private outdoor space in a well-established neighbourhood. The house itself offers comfortable, though not oversized, living space. Its value is solidly above average for Winnipeg, positioning it as a premium property within the broader market.
This home would best suit a buyer who values land over a turnkey, modern footprint. It’s an ideal canvas for someone with a vision—whether that’s a major renovation, a future addition, or simply prizing expansive grounds. It may also appeal to an investor or builder who sees the underlying land value. The buyer should be comfortable with the maintenance and potential updating needs of a home from the late 1950s.
Frequently Asked Questions
1. Is the house in need of major updates?
Given it was built in 1957, buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, depending on their maintenance history. A thorough inspection is essential.
2. Why is the assessed value so much higher than the city average?
The assessed value reflects the property’s exceptionally large lot size, which is a rare commodity. Value is driven more by the land potential than the size or age of the existing structure.
3. What can I do with such a large lot?
The lot size offers flexibility for significant additions, building a secondary structure (subject to zoning and permits), creating extensive landscaping or gardens, or simply enjoying unparalleled privacy and space for recreation.
4. How does the 2023 sale price relate to the current assessed value?
The property sold for an estimated $650k-$700k in August 2023, which is notably higher than the current $592k assessed value. This difference highlights how market prices can fluctuate based on demand, while assessed value is an administrative valuation for tax purposes.
5. How do I find out the exact past sale prices?
The site provides sold price ranges. To obtain the exact historical sale figures, you must request them directly via email, as this data is not sourced from the MLS system.