Property Summary: 733 Lansdowne Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling opportunity centered on its generous lot. Built in 1925, the 1,048 sqft house is modest in size, ranking around average for its street and neighborhood. Its assessed value of $241k is notably below both the Winnipeg and neighborhood averages, suggesting a potentially accessible entry point. The true standout feature is the 6,470 sqft land area, which ranks in the top 3% on Lansdowne Avenue and within Robertson. This significant outdoor space is a rare asset, offering ample room for gardening, expansion, or recreation that newer properties in the area often lack.
The appeal lies in this land-value proposition. It suits a practical buyer who sees potential beyond the current structure—perhaps a first-time homeowner willing to grow into the space over time, an investor recognizing lot value, or someone seeking an affordable footprint large enough for future projects like an addition, garage, or lush garden. It’s a property where the land tells a more promising story than the vintage home itself, ideal for those with a vision for outdoor living or gradual improvement.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its 1925 build date, which is older than most in the neighborhood and city, buyers should budget for updates. Systems like wiring, plumbing, and insulation may require inspection and modernization to meet contemporary standards.
2. How does the sold price history affect current value?
Records show it last sold between $200k-$250k in late 2020. While useful context, this range is not an exact or guaranteed current value. Market conditions have likely shifted since then, and an exact historical price requires a manual lookup.
3. What are the implications of such a large lot?
The elite-sized lot offers valuable flexibility but also comes with responsibilities. Property taxes may be influenced by land value, and maintenance (like lawn care or snow clearing) will be more extensive than for a standard lot. It’s an asset that requires both enjoyment and upkeep.
4. How does the living area compare for daily life?
At just over 1,000 sqft, the living space is functional but compact. It is smaller than the average home on the street. This emphasizes an efficient use of indoor space, making it more suitable for smaller households or those who prioritize the outdoor area over a large interior.
5. Why is the assessed value below area averages?
The below-average assessment likely reflects the home’s older age and modest size relative to the neighborhood. This can be an advantage for property taxes but also indicates that the value is currently driven more by the land than the structure itself.