Property Overview: 207 Greenwood Avenue, Winnipeg
Key Characteristics & Target Buyer
This home presents a distinct value proposition centered on its exceptional outdoor space. Its key characteristic is a very large, private lot of over 8,400 sq ft, which ranks in the top 1% on its street and the top 10% city-wide. This offers significant potential for gardening, recreation, or future expansion. The living space (950 sq ft) is modest and below local averages, suggesting a practical, efficient layout rather than expansiveness. Built in 1973, the house is newer than many on its street, which may imply updated systems or components.
The appeal lies in a trade-off: you acquire a premium-sized property in a mature neighborhood for a price point that is competitive and close to city-wide averages for assessed value. It suits a buyer who prioritizes land over square footage—perhaps a first-time homeowner looking for outdoor room to grow, a downsizer wanting a manageable home with a generous garden, or an investor seeing long-term value in the lot size itself. It’s a property for those who value potential and space more than immediate, move-in-ready grandeur.
Frequently Asked Questions
1. Is the house too small given the below-average living area?
While the 950 sq ft living area is below the averages for the street, neighborhood, and city, it represents a compact and efficient footprint. This can mean lower utility costs and less maintenance, focusing the property's value on the substantial land.
2. The assessed value is above average for the street. Does that mean it's overpriced?
Not necessarily. The higher assessment likely reflects the combined value of the dwelling and, crucially, the significantly larger-than-average lot. It suggests the property is viewed as a premium offering on its street.
3. What are the implications of the 1973 build year?
Being newer than the street average (1950) is generally positive, potentially indicating newer wiring, plumbing, or insulation standards than much older homes. However, a 50-year-old home will still require a thorough inspection for age-related updates.
4. How meaningful is a lot size ranking in the "top 1% on the street"?
It’s a standout feature. It means this property offers a level of outdoor privacy and space that is extremely rare on Greenwood Avenue itself, which is typically composed of standard-sized lots.
5. Who might this property not suit?
It may not suit buyers seeking a large, modern interior or who prefer a low-maintenance, small-yard lifestyle. The value here is unlocked by someone willing to utilize or appreciate the extensive land.