385 Almey Avenue

Property Overview: 385 Almey Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a distinct value proposition centered on its exceptional lot size. At over 64,000 square feet (approximately 1.5 acres), the property offers an elite, rare level of outdoor space within Winnipeg, ranking in the top 1% of the city. This is its most defining feature, suited for buyers seeking privacy, extensive gardens, recreational space, or future expansion potential.

The house itself, built in 1956, is more modest. At 1,122 sqft, it is smaller than most homes on its street and in the newer Peguis neighborhood, but it is close to the city-wide average. Its assessed value of $536k is above average for both the city and neighborhood, indicating that the premium is largely for the land. The appeal here is not a move-in-ready modern showhome, but a solid, older home on a truly extraordinary parcel of land. It would best suit a buyer whose priority is land over interior square footage—such as someone looking for a quiet retreat, with room for workshops, hobbies, or simply enjoying nature, all within the city. It’s a property where the real value and future potential lie in what you can do with the space around the house.

Section 2: Frequently Asked Questions

1. Why is the assessed value so high for a smaller, older home?
The assessment reflects the property’s immense land value. In a neighborhood and city where lots are typically under 6,000 sqft, this lot’s size is a rare commodity, which is a major driver of its value.

2. How does the house’s condition factor into this analysis?
The provided data focuses on quantitative metrics like size, age, and value. The condition, layout, and any updates to the 1956-built home are not detailed here and would require a physical viewing to assess how they align with the land’s premium.

3. The neighborhood homes are much newer. What is the surrounding area like?
Peguis is a modern development, so this property is an older holdout. This means you get a large, established lot but may be adjacent to newer, larger homes. It offers a blend of seclusion and proximity to a contemporary community.

4. What are the implications of such a large lot for a buyer?
Beyond the benefits, consider the maintenance (lawn care, snow clearing) and associated costs. Also, verify any municipal zoning bylaws regarding what can be built or placed on the lot to ensure your plans are feasible.

5. The last sold price range seems lower than the current assessment. Why?
It last sold in 2019, and the market has changed since then. The current assessed value is an estimate for taxation purposes, not a market price. To understand true current value, consult a real estate professional and request the exact, verified sale history of this and comparable properties.