73 Zimmerman Drive

Property Overview: 73 Zimmerman Drive, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a unique profile defined by significant contrasts. Its most striking feature is its assessed value of $107k, which is substantially below averages for the street ($478k), the Ridgewood South neighborhood ($560k), and the wider city ($390k). This positions it as an entry-point opportunity in a newer, developing area. The land size of 5,332 sq ft is above average for Zimmerman Drive, offering a good-sized lot in a context where many neighboring properties are on smaller parcels.

The appeal lies squarely in its potential and land value. It suits a specific type of buyer: those looking for a land play, a builder or investor intending to develop, or a hands-on buyer willing to undertake a significant renovation or rebuild. The property is not a move-in-ready home but a foundational asset in a community of newer homes (street average year built is 2024). It offers a chance to create equity through construction in an established modern neighborhood, rather than paying a premium for an already completed home.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbors?
This typically indicates the property is either vacant land or has a structure that adds negligible value (e.g., a very old home, a tear-down, or an incomplete build). The value is primarily in the land itself.

2. What can actually be built on this lot?
While the lot size is favorable, you must consult with the city for specific zoning bylaws, building setbacks, floor area ratios, and any restrictive covenants to understand the exact buildable potential.

3. Are utilities and services connected to the property?
This is a critical due diligence question. For what appears to be a vacant or underdeveloped lot, confirming the availability and connection points for water, sewer, gas, and electricity is an essential first step.

4. How does the lack of sales history affect the buying process?
Without recent comparable sales for this specific property, determining a fair market offer price requires extra analysis. You'll need to rely heavily on the value of recent lot sales in the area and the end value of newly built homes, minus construction costs.

5. What are the immediate next steps if I'm interested?
Engage a real estate lawyer to review the title for any liens or unusual encumbrances. Then, consult with a builder or architect to understand development costs and feasibility before determining your offer price.