Property Overview: 520 Almey Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This home presents a distinct value profile centered on its generous lot. At 12,650 sqft, the land area is exceptionally large for both the Peguis neighborhood (ranking in the top 5%) and city-wide (top 3%), offering significant outdoor space and potential. This stands in contrast to the home itself, which at 1,248 sqft is more modest and below the local averages for living area on its street and in the immediate area.
The appeal lies in this land-to-structure ratio. The assessed value of $441k is above the Winnipeg average but below the average for Almey Avenue, suggesting you may be paying a premium for the city lot size while the house itself is valued more modestly. Built in 1972, it is older than most homes in the newer Peguis neighborhood but aligns with the city-wide average. The last known sale was between $300k-$350k in late 2020.
This property would best suit a buyer who prioritizes private outdoor space, gardens, or future expansion potential over immediate move-in size and modern finishes. It’s a practical choice for those comfortable with a home that may require updates, seeing the lot as the primary long-term asset. It may also appeal to value-conscious buyers looking in Winnipeg, where the assessed value sits above the city median, but who find the specific street's average prices out of reach.
Frequently Asked Questions
1. Is the lot size a true advantage?
Yes, especially if you value privacy, gardening, or outdoor recreation. The lot is significantly larger than typical city and neighborhood parcels. However, consider that a larger lot also means more maintenance in terms of lawn care, snow clearing, and potential landscaping costs.
2. Why is the assessed value below the street average?
The primary reasons are likely the home's smaller living area and older age compared to many neighbors. On a street where average values are around $573k, this property’s more modest structure brings its assessment down, even with the valuable lot.
3. What does the sale history indicate?
The home sold for an estimated $300k-$350k in October 2020. The current assessed value of $441k reflects the significant market-wide appreciation since that time. It’s important to get exact, verified sale figures for a complete picture.
4. How does the age of the home (1972) factor in?
While older than most homes in Peguis, a 1972 build is not uncommon in Winnipeg. It suggests systems (roof, furnace, windows) may be due for updates or replacement. A thorough inspection is essential to understand the condition and any upcoming capital costs.
5. Where can I get verified sale price data for this home?
The provided data is from public sources, not the MLS. For fully verified transaction history and exact sale prices, you must request a manual lookup from the site via email, as industry rules prevent the display of MLS records here.