Property Overview
This home at 324 Almey Avenue in Winnipeg's Peguis neighbourhood presents a distinct blend of classic character and substantial space. Its primary appeal lies in its generous proportions, both in the home itself and on the expansive lot, offering a rare level of privacy and potential within the city.
Key Characteristics & Ideal Buyer
The standout feature is the exceptionally large, 1.34-acre lot (58,426 sq ft), which ranks in the top 1% of properties citywide. This provides unparalleled space for gardens, recreation, or future expansion. Combined with a spacious 2,386 sq ft living area—significantly larger than area and city averages—the property offers room to grow. While the 1940 build date means it is the oldest on its street and likely requires consideration for updates or maintenance, this also contributes to its established charm and mature landscape. The assessed value of $605k is consistently above average across all comparison levels, reflecting its substantial lot and living space.
This property would best suit a buyer who values privacy, space, and potential over modern turn-key convenience. It's ideal for someone seeking a legacy property with room for extensive gardening, outdoor activities, or custom renovations. A buyer with vision, who appreciates the character of an older home and is prepared for the stewardship it entails, will find unique value here that is nearly impossible to replicate with newer construction in the city.
Frequently Asked Questions
1. What does the "top 1%" ranking for land area actually mean?
It means this property's lot size is larger than 99% of residential properties across Winnipeg. On its street, only 3 other lots are larger, and in the broader Peguis area, it's among the top 5 largest lots out of over 1,600 homes.
2. The home was built in 1940. What should I consider?
While the structure has proven its durability, a home of this age typically requires careful attention to foundational systems. Prospective buyers should prioritize inspections focusing on the roof, plumbing, electrical wiring, and insulation to understand any needed updates or investments.
3. How does the assessed value relate to potential selling price?
The $605k assessment is a municipal valuation for tax purposes. The last known sale was between $450k-$500k in 2019. Market conditions, property condition, and unique features like the massive lot will ultimately determine the listing and sale price, which could be above or below the assessed value.
4. Is the large lot a benefit for property taxes?
Generally, yes. A larger, valuable lot contributes to a higher assessed value, which typically results in higher property taxes. The benefit is the private space and utility you gain, but it comes with an ongoing cost.
5. What is the neighbourhood context like?
The data shows that on Almey Avenue, this home has the largest living area and the oldest build date. This suggests a street with a mix of home sizes and eras. The lot size is exceptional even here, indicating this property is likely one of the most private and substantial on the block.