50 Rambling River Bay

Property Overview: 50 Rambling River Bay, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a unique opportunity in Winnipeg's Rosser-Old Kildonan area. Its key characteristic is the land itself—a 4,015 sqft lot—which ranks in the top tier for size on its street. The official assessed value is notably low at $5,200, placing it at the very bottom percentile for both the neighbourhood and the wider city, which is a critical point for investigation.

The appeal lies primarily in its potential as a blank canvas. With no details provided for the building type, living area, year built, basement, or garage, it suggests a property that may be suited for a new build or a significant renovation project. It would suit a buyer looking for a land-value opportunity, such as a developer, an investor comfortable with substantial projects, or a hands-on individual aiming to create a custom home. A less obvious perspective is its potential appeal to someone interested in minimal property tax obligations based on the current assessment, though this comes with the responsibility of understanding the reasons behind that valuation.

Section 2: Frequently Asked Questions

1. Why is the assessed value so low compared to nearby properties?
The assessed value of $5,200 is significantly lower than other listed homes in the broader area. This typically indicates the assessment is based on land value only, suggesting there may be no habitable structure or a structure with negligible value on the lot.

2. What is the actual condition of the property?
The listing lacks all details on the building, including its type, size, age, and condition of basics like a basement or garage. A physical inspection and municipal records search are essential to understand what exists on the land.

3. Is this a teardown or renovation project?
Given the lack of structural details and the low assessment, it is very likely a candidate for a complete rebuild or a major gut renovation. Budgeting should be focused on construction costs rather than the purchase price alone.

4. What are the development or building restrictions for this lot?
Prospective buyers must investigate the zoning bylaws with the city to understand what can be built, including allowable size, setbacks, and use, to ensure their plans are feasible.

5. How do the ranking percentages work?
The "top 0%" rank for lot size on its street means this lot is the largest or tied for the largest. Conversely, a "top 100%" rank for year built means it is the newest or tied for the newest on its street, but this data point is only meaningful if the actual year is known.