Property Overview
This 1981 two-storey home in Ridgewood South is defined by its exceptional lot size and established presence. Sitting on approximately one acre (43,530 sqft), the property ranks in the top 1% for land size across Winnipeg, offering a rare sense of space and privacy within the city. The nearly 1,850 sqft of living space is complemented by a finished basement and an attached garage. Its appeal lies in this unique combination: the generous, park-like grounds of a country property with the conveniences of a city home in a mature neighbourhood. It suits buyers looking for room to garden, play, or simply enjoy quiet outdoor living, and who value the character and stability of an established community over a brand-new build. A thoughtful perspective is that while the home itself is middle-aged, the immense lot represents a permanent, appreciating asset that is increasingly scarce, making it a long-term investment in lifestyle as much as in real estate.
Key Details & FAQs
- Key Characteristics: 1,847 sqft two-storey, finished basement, attached garage. Built in 1981.
- Land: The standout feature is the ~1-acre (43,530 sqft) lot, ranking in the 99th percentile for size in Winnipeg.
- Value: The current assessed value is $597,000. It last sold for $499,000 in September 2020.
Frequently Asked Questions
1. What is the neighbourhood like?
Ridgewood South is a mature, established neighbourhood. The property's rankings indicate it is among the larger, more valuable homes in the area, suggesting a well-kept community of primarily single-family homes.
2. Is the lot usable, or is it mostly wild?
At just over an acre, the potential is significant. The condition isn't specified, so it could range from landscaped gardens to natural space. Its size allows for various uses like gardening, recreation, or future additions, subject to local bylaws.
3. How does the age of the home factor in?
Built in 1981, the home is over 40 years old. Buyers should anticipate maintenance consistent with its age. The positive trade-off is that this era of home often comes with larger lot sizes and more solid construction than many newer builds.
4. Why is the assessed value higher than the 2020 sale price?
The assessed value of $597,000 reflects the municipal government's valuation for tax purposes, which considers market trends. The sale price of $499,000 in late 2020 is a historical data point and likely reflects a different market condition. The gap suggests significant market appreciation in the intervening period.
5. What does it mean that the home ranks highly for land but lower for "newness" in the community?
This highlights the property's unique profile. It has one of the largest lots in the area (top 2%), but the home itself is older than many in the immediate neighbourhood (ranking in the top 96%, meaning only 4% of homes are older). This underscores that you are primarily buying the land and the space it provides.