Property Overview
This one-storey home in Tuxedo sits on a large, mature lot of nearly 17,000 sqft, placing it in the top tier for lot size within both the neighbourhood and the wider city. Built in 1963, the 2,428 sqft home features an attached garage and a renovated basement. Its most recent sale was in August 2022 for $1,100,000, a figure that ranked highly compared to other Winnipeg sales at the time. The current assessed value is significantly lower at $86,900, which is typical and not reflective of market value. The home’s appeal lies in its prime Tuxedo location, substantial and private lot, and the flexibility of a renovated lower level. It would suit buyers looking for established character, generous outdoor space, and single-level living in one of Winnipeg’s most desirable neighbourhoods. A thoughtful perspective is that the large lot offers not just privacy, but also future potential, whether for gardening, expansion, or simply as a valuable asset in a neighbourhood where land is at a premium.
Frequently Asked Questions
1. Why is there such a large gap between the last sale price ($1.1M) and the assessed value ($86.9k)?
Property assessments in Manitoba are primarily for municipal tax purposes and are not intended to reflect current market value. The assessed value is typically much lower; market value is determined by recent sales of comparable homes, like the 2022 sale price of this property.
2. What does the ranking data (e.g., "Top 2% in Winnipeg") actually mean?
These rankings compare this specific property metric (like lot size or past sale price) against all other properties in the stated area. For example, its lot size is larger than 98% of lots in Winnipeg, highlighting a key feature of scarcity and value.
3. Is the renovated basement a legal suite?
The provided details confirm a renovated basement but do not specify if it is a legal, separate suite. This is a critical point to verify with the listing agent or through municipal records, as it impacts value, utility, and regulations.
4. What are the annual property taxes?
Taxes are not listed here but can be estimated by applying the local municipal tax rate to the assessed value. For a precise figure, contact the City of Winnipeg or your real estate representative.
5. How does this home compare to others in Tuxedo for the price?
The 2022 sale price placed it in the top 15% of neighbourhood sales at that time. The home trades at a premium for its combination of large lot and living space in Tuxedo, as seen when compared to the listed "related homes," which often have smaller lots or lower historic sale prices.