409 North Drive – Property Summary
Key Characteristics & Buyer Profile
This property stands out for its uncommon combination of size, land, and value. The home offers 2,694 square feet of living space—well above the citywide average of 1,342 square feet—and sits on a 12,732-square-foot lot. Both figures place it in the top 2–3% of Winnipeg homes. Its assessed value of $1.19 million is in the top 1% citywide, reflecting the premium attached to this scale and location.
The year built (1918) places it among the older homes on its street and in the neighbourhood. This isn't a turnkey modern build. Buyers should expect the character and quirks that come with a century-old house: likely original detailing, possibly outdated systems or layouts, and the need for ongoing maintenance. The appeal lies in the potential for a substantial renovation or restoration on a rare large lot in an established area.
The property suits buyers who want space that newer infill projects rarely offer—both indoors and outdoors—and who are comfortable with older construction. It may appeal to someone looking to build long-term equity through careful upgrades, or a buyer who values architectural heritage and is prepared to steward an older home. It is less likely to suit someone seeking a move-in-ready contemporary house.
Five Possible FAQs
1. Does the age of the home mean it will need major work?
Not necessarily right away, but a home built in 1918 will likely have older plumbing, electrical, and insulation. A thorough home inspection is strongly recommended. Some buyers budget for phased upgrades rather than expecting everything to be modern from day one.
2. Why is the assessed value so high relative to other homes in the area?
The assessed value reflects the combination of a large living area, a lot size nearly double the neighbourhood average, and the desirability of the Wildwood area. It’s not just the house—land value plays a significant role.
3. How does the lot size compare to other homes in Wildwood?
This lot is roughly 40% larger than the neighbourhood average of 9,032 square feet. It ranks in the top 11% locally, meaning most homes in the area sit on noticeably less land. That extra space could be used for gardens, additions, or simply privacy.
4. Is this home a good candidate for a major renovation or addition?
Given the lot size and the property’s position in the market relative to newer homes, a renovation could make financial sense. However, any structural changes would require permits and likely need to respect the character of the neighbourhood. Buyers should consult with a local architect or contractor familiar with older homes in Winnipeg.
5. How does this property compare to newer homes in the same price range?
Newer homes in this price bracket are typically smaller in both living area and lot size. You would be trading modern finishes and efficiency for square footage and land. Some buyers find that trade-off worthwhile; others prefer a home that doesn’t require as much ongoing attention.