119 Mill Rock Road

Property Overview & Key Characteristics

This property at 119 Mill Rock Road in Winnipeg’s Rosser-Old Kildonan neighbourhood presents a unique opportunity centered on land value and potential. The primary characteristic is a sizable 4,014 sqft lot, which ranks in the top tier for size on its street. The home itself is described as having no garage, no pool, and an unfinished basement, with living area and year built data not specified, indicating it may be a more modest or older structure. The assessed value is notably low at $13,100, placing it at the very bottom of the neighbourhood rankings but in the top 2% for low assessments across Winnipeg. This significant discrepancy suggests the current value is almost entirely in the land.

Its appeal lies in its potential rather than its current state. It suits a specific type of buyer: an investor, builder, or hands-on homeowner looking for a land play or a complete renovation/rebuild project. The low tax assessment is a double-edged sword—it hints at very low annual property taxes, which is a financial advantage, but also confirms the existing improvements add little value. This isn't a move-in-ready home; it's a canvas. A less obvious perspective is that such a property in an established neighbourhood can offer a rare chance to create a modern home on a mature lot without the premium price of a teardown in a more central area, though it requires vision and capital.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
The assessed value is based on the combined value of the land and existing structures. Given its ranking at the absolute bottom of the neighbourhood, the assessment indicates the building itself contributes very little value, focusing the worth almost entirely on the land parcel.

2. What does the lack of data for "Living Area" and "Year Built" imply?
This typically means this specific data is not currently available in the municipal database used for the comparison. It strongly suggests the property is older and may not have been recently renovated or reassessed in detail. A buyer must verify all details through a physical viewing and their own due diligence.

3. Who would this property be most suitable for?
It is best suited for investors, builders, or homeowners with renovation experience who see value in the land size and location. It is a project property, ideal for someone planning a major renovation, expansion, or complete rebuild.

4. Are the low property taxes a permanent advantage?
While the current tax burden is likely very low, any significant improvement, renovation, or rebuild will trigger a municipal reassessment. The new, higher assessed value after improvements will result in proportionally higher property taxes.

5. How should I interpret the comparable listings provided?
The "Nearby Properties" show close proximity, but the "Similar Assessed Value" listings are not necessarily similar homes. They are properties with an identical municipal assessment, which often means they are also land-value properties, potentially in different neighbourhoods. They are a useful benchmark for tax liability, not for market value or livability.