942 Merriam Boulevard

Property Overview & Key Characteristics

This property at 942 Merriam Boulevard in Winnipeg's Point Road neighbourhood presents a unique opportunity centered on its land value and future potential. The appeal lies less in the existing structure and more in the lot itself—a 3,041 sqft parcel in an established area. With an assessed value significantly lower than nearly all listed comparables on its street and in the city, it stands out as a blank canvas. The data suggests the existing building is likely older or more modest, as it ranks at the very top (newest/biggest) for year built and living area in its comparison groups, which often indicates the benchmarks are low for the area. This combination suits a specific buyer: someone looking for a land play, a builder or developer eyeing a tear-down and rebuild, or a hands-on buyer willing to undertake a major renovation or new construction project. It’s a strategic purchase for those focused on location and potential over immediate move-in condition.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is typically based on the property's current state. Given the low value and high land-to-improvement ratio, the assessment likely reflects an older or more modest structure that may require significant investment or replacement.

2. What does ranking in the top 98-100% for year built and living area actually mean?
These rankings compare this property to others in its comparison sets. Ranking at the very top (e.g., 1/45 on the street) means it is considered the newest or largest within that specific data group. This often indicates the surrounding properties used for comparison are of a similar vintage or scale, setting a low benchmark rather than implying this home is notably new or spacious by city-wide standards.

3. What type of development or renovation would be possible here?
With a standard-sized city lot, possibilities could include building a new single-family home, adding a significant addition, or potentially exploring a multi-unit development, subject to all City of Winnipeg zoning bylaws, permits, and lot coverage restrictions. Due diligence is essential.

4. Are the utility services and foundation suitable for a new build?
This is a critical question for any redevelopment plan. Buyers must investigate the condition and capacity of existing water, sewer, and electrical services, as well as the foundation of any current structure, to accurately budget for a tear-down or major renovation.

5. How do the nearby "For Reference" properties, like 930 Merriam assessed at $310k, impact this property's value?
These comparables demonstrate the potential value of updated or newer homes on similar lots in the immediate area. The wide gap between this property's assessed value and those references highlights the value attributed to modernized dwellings and underscores the potential upside—and the required investment—for this property.